PLANO, TEXAS — Gourmet beef biltong snack company Stryve Biltong has secured a $16.5 million Series B investment led by Meaningful Partners, Pendyne Capital and Murano Group. Meaningful Partners and Murano Group previously led a $10 million funding round for Stryve in September 2018.
The new funding will allow Stryve to continue its “rapid growth trajectory in the meat snacks category,” the company said, as well as increase marketing investment to drive education, awareness and trial and to drive continued investment in talent and operations.
As part of this effort, Stryve has added new leadership to its board and executive leadership team. In March, Jaxie Alt joined the company as chief marketing officer. Additionally, Peter Rahal, founder of RXBAR, has joined Stryve’s board of directors.
“Stryve is at a really exciting place in its development,” Mr. Rahal said. “I look forward to bringing my experiences in C.P.G. to the table to help accelerate the brand’s growth.”
Stryve was founded in 2017 by former National Football League player Gabe Carimi, Dymatize founder Ted Casey and Prosupps founder Joe Oblas. The company’s product portfolio includes sliced biltong, biltong sticks and biltong trail mix. Biltong is a South African cured and sliced beef protein snack made with little to no carbohydrates, sugar, nitrates or additives.
“The past year has shown that there is a huge demand for clean protein snacks in the U.S., and we have assembled an experienced team of brand builders to help us shape the future of meat snacks and clean protein snacking with Stryve Biltong,” said Mr. Case, who is also chairman of the board. “We have an aligned strategy for growth and are rapidly moving to put all the pieces in place to achieve it.”