BERKELEY, CALIF. — Once Upon a Farm, producer of organic cold-pressed baby food, applesauce and smoothies, has closed a $20 million Series B financing round led by CAVU Venture Partners.
Founded in 2015 by Cassandra Curtis and Ari Raz, Once Upon a Farm offers 12 organic, cold-pressed, ready-to-eat baby food pouches as well as three applesauce varieties. The products are U.S.D.A. organic, vegan, Non-GMO Project verified, OU kosher and certified gluten-free. John M. Foraker, who stepped down as president of the Annie’s operating unit of General Mills, Inc. in August 2017, became chief executive officer of the company in September 2017.
“From day one, our investors have all been tremendous partners for our brand,” Mr. Foraker said. “Due to their generous support and this round led by CAVU, Once Upon a Farm has been able to maintain incredible momentum to create a new Fresh Baby category and build a company that is committed to driving social impact for families.”
Since Mr. Foraker and Jennifer Garner joined the company as co-founders in September 2017, Once Upon a Farm has expanded from 300 retail locations to more than 8,500, including Target, Whole Foods, Kroger, Publix and Walmart stores. The company also recently announced a new line of baby food cups designed for spoon-feeding occasions that will be in stores early next year.
“The baby food category has lacked real product innovation for quite some time,” said Brett Thomas, managing partner of CAVU Ventures. “We’re thrilled to partner with John, Jen and the rest of the Once Upon a Farm team to disrupt and lead in this space.”
Also participating in the funding round were S2G Ventures, Beechwood Capital and other Series A investors. The $3.1 million Series A round was led by Cambridge SPG in February 2017.
Once Upon a Farm is the 19th brand to join the CAVE Venture Partners portfolio. Other investments include Bai, Kite Hill, Health-Ade Kombucha, Chef’s Cut Real Jerky, One Brands, Vital Proteins, Hippeas, Bulletproof, High Brew Coffee, WTRMLN WTR, Good Culture and Rebbl.