TEMPE, ARIZ.— Oats Overnight, a manufacturer of spoon free, high protein oatmeal that is prepped at night and ready by morning, has raised $35 million in Series B capital, led by Enlightened Hospitality Investments. New investors included Sonoma Brands Capital and existing investors included Impatient Ventures, Singh Capital Partners, Morrison Seger Venture Capital Partners and BFG Partners.
Oats Overnight was founded in 2016 by Brian Tate after wanting to incorporate a better-for-you breakfast into his schedule. To make the product, consumers combine 8-oz of milk or milk substitute with a pack of Oats Overnight in the company’s custom BlenderBottle. Consumers then shake the mixture and refrigerate it overnight. After another shake in the morning, the product is ready to consume.
With the capital, the company is continuing investments toward its two manufacturing facilities. It will focus on supporting manufacturing, fulfillment and product development.
The company said it opened a 62,000-square-foot facility in Ohio in 2023 and an 86,000-square-foot facility in Arizona in June of this year.
“We are thrilled to have EHI as a partner on this next chapter of growth,” Tate said. “This capital will help us continue our expansion in the retail channel, further develop our manufacturing and distribution footprint, and drive new innovation in collaboration with our community of subscribers.”
Vincent Comerford, chief operating officer at Oats Overnight, added, “Controlling the process from procurement to fulfillment has been a key tenet of our business since inception. Complete ownership of our supply chain increases resilience while owning manufacturing allows us to produce high-quality products in an iterative way. This process is critical for executing our product development strategy.”
The company also completed a$20 million Series A round in March 2023, which was aimed at building its facility in Pheonix and expanding its sales team.Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.