AUSTIN, TEXAS — Proper Good, a maker of shelf-stable meals, has raised $3.5 million in seed funding led by YETI Capital, an investment vehicle created by the founders of YETI Holdings, Inc., and The Artisan Group.
Founder and chief executive officer Christopher Jane, who launched the brand two years ago with his sister, Jennifer, aspires to build a “modern Campbell’s.” Offerings include fully-cooked and ready-to-eat oatmeal, soups, chilis and curries, including plant-based, gluten-free and ketogenic options, packaged in transparent pouches that are flexible and microwave-safe.
The products primarily are sold on the brand’s website, eatpropergood.com, and shipped with minimal packaging and no insulation or dry ice. Proper Good has sold more than 500,000 meals through its website since launching, growing direct-to-consumer revenue by 400% annually, according to the company.
The new funding will support the brand’s growth across e-commerce and retail, including its recent expansion into more than 2,000 Walmart Supercenter stores nationwide.
Investors include Doug Bouton, founder of Halo Top and Gatsby Chocolate, who is joining the board of Proper Good, alongside Drew Zang, managing partner at The Artisan Group, and Maxx Karr, managing director of YETI Capital.
“Proper Good has created something truly innovative: ready-to-eat, healthy meals that taste incredibly great and are unbelievably convenient to eat,” Mr. Bouton said. “I’ve made my biggest angel investment to date into Proper Good and feel like I’ve already been paid back with the amount of time Proper Good meals have saved me from cooking and cleaning.”
Previously the Jane siblings, who hail from the south coast of England, co-founded and led Montana Mex, a condiment brand sold in thousands of grocery retailers.“Proper Good came about from a personal need,”Mr. Jane told Food Business News last November. “I was doing keto, plant-based, and I found there was an abundance of snacks and beverages, but when it came to meals, I was still cooking from scratch… I explored the market and realized it’s a thing. When you’re keto, plant-based, gluten-free, dairy-free or low-sodium, making 90-second meals is either nonexistent or extremely expensive with frozen or refrigeration usually.”