NEW YORK — Partake Foods, a brand of allergy-friendly foods, has raised $11.5 million in a Series B funding round to support continued growth momentum.
Founded in 2016, Partake Foods’ portfolio is free from the top nine allergens, including wheat, tree nuts, peanuts, milk, eggs, soy, fish, sesame and shellfish. Products include crunchy and soft-baked cookies in such flavors as birthday cake, triple chocolate and ginger snap, as well as baking mixes and pancake and waffle mixes. Founder and chief executive officer Denise Woodard ended a decade-long career at the Coca-Cola Co. to launch the business after her infant daughter was diagnosed with severe food allergies. Today, Partake Foods products are available in 9,000 retail outlets, including Whole Foods Market, Walmart, Target, Kroger, Sprouts Farmers Market and more. The brand notched 200% year-over-year growth from 2020 to 2021 and 100% year-over-year growth from 2021 to 2022.
“Inclusivity is at the heart of what Partake is doing,” Ms. Woodard said. “This shows up most notably in creating foods that over 90% of Americans can enjoy safely, the doors we’re opening with our Black Futures in Food & Beverage Fellowship, and the one million meals we’ve committed to providing with No Kid Hungry in 2022. I’m so proud of the investors we have around our table. With this newly raised capital, Partake will continue to champion radical inclusivity by scaling our team and operations ensuring we can continue to deliver on our promises of making eating and sharing simple and worry-free and lifting as we climb.”
Partake Foods has raised a total of $19 million to date since its launch. New investors in the latest round include Cleveland Ave’s CAST US fund, Fearless Fund, Supply Change Capital and Kaya Ventures, along with returning investors Marcy Venture Partners, CircleUp Growth Partners, Black Star Fund, FF2032 (Lotus Bakeries’ venture arm) and Black Capital. Ms. Woodard aimed to build a funding round of investors and funds supporting diverse and female leadership.“Partake is a trailblazing brand championing food inclusivity through its delicious, healthy and allergy-friendly products, and we are thrilled to be a part of this raise and support the team to ensure consumers everywhere know their brand,” said Arian Simone, co-founder and general partner of Fearless Fund. “Our enthusiasm for Partake’s future lies not only in offering the brand's tasty foods to the millions of people with dietary restrictions, but also in its incredible mission to partner with organizations fighting global food insecurity.”