Honey Mama's closes $10.3M Series A with follow on investment from Amberstone
PORTLAND, Ore., Sept. 8, 2021 /PRNewswire/ -- Honey Mama's, founded in 2013 and maker of nutrient-rich, indulgent treats, today announces the completion of a total $10.3 million, two phase Series A funding round led by Amberstone. The first phase totaling $5.8 million was completed in June 2020, with the follow-on round of $4.5 million complete as of August 2021. This total Series A enables Honey Mama's continued exponential growth rate in terms of brand awareness, emerging channel development, and product innovation. This cash infusion will serve to bolster Honey Mama's brand reputation as the leader of the pack in the better-for-you indulgence category.
Founder Christy Goldsby's outstanding creation came to fruition after she set out to make a treat that needed to be a win-win "yes", indulgent and nutritious. The brand's signature refrigerated cocoa truffle bars are made from a foundation of five clean, whole food ingredients with no preservatives or shelf stabilizers. The bars are naturally free from refined sugar, gluten, grains, dairy, and soy for a plant-rich, anti-inflammatory alternative.
"Consumers are truly joyous when they experience our one-of-a-kind bars that prove wellness can go hand in hand with indulgence. The only question then becomes what flavor is their favorite!" said Goldsby. "Our mission to change how people think and feel about indulgence is at the center of everything we do. From day one, Amberstone has brought a shared belief in this objective – Honey Mama's is altering the food conversation and they see we are onto something big."
As a direct result of the Series A, Honey Mama's is growing rapidly across all channels. "The past year stunned with record growth," said Jared Schwartz, CEO of Honey Mama's. "Nine months ago, we debuted a full portfolio refresh that was first conceived in 2018. We will close 2021 with dramatic revenue growth, proving to be a pivotal point for our exponential trajectory. Rarely do you come across a product that makes people light up as much as Honey Mama's."
In January 2021, the company debuted a full brand refresh and activated a multi-year product strategy, simultaneously strengthening presence in the natural channel while extending to emerging online marketplaces and conventional grocery retailers. Honey Mama's completed a nationwide expansion with Whole Foods Market in July, marking a significant milestone reflecting the increased demand.
"It is becoming abundantly clear that consumers understand and appreciate the attributes that are core to the Honey Mama's brand – clean, simple ingredients delivering a nourishing and delicious product – which is reflected in category-leading velocities on-shelf," shared Alexander Bernstein, Managing Partner at Amberstone. "In the time since we first invested, the team has executed a brand refresh, introduced incremental new product offerings, achieved national expansion, and is now launching into the leading conventional food retail chains across the country," said Bernstein. "We are thrilled to have the opportunity to deepen our commitment to Honey Mama's as they continue to build a category-defining brand."
About Honey Mama's
Honey Mama's is the maker of category-defying refrigerated cocoa truffle bars, founded in 2013 when Christy Goldsby, a former bakery owner, had a life changing wellness experience that inspired her to re-define what indulgence can offer. Her vision became a reality with the launch of a one-of-a-kind line of bars made from a foundation of five pure ingredients that are wildly delicious and nourishing. The culinary flavor combinations – lavender and rose petals, tahini and tangerine oil, Vietnamese cinnamon and cayenne – provide a velvety, melt-in-your-mouth texture and flavor experience that anchor you in a moment of decadent bliss. A base of raw honey, unrefined coconut oil, cocoa, and Himalayan pink salt provides a recipe for everyday indulgence and vitality with super clean ingredients naturally free from refined sugar, soy, eggs, dairy, gluten, and grains. Honey Mama's bars are available in the refrigerated section at more than 3,000 retail locations nationwide and online at www.honeymamas.com.
About Amberstone
The investment in Honey Mama's was led by Amberstone, a firm that specializes in investing in breakthrough food and consumer product companies. For more information about Amberstone and their experience and working with founders and entrepreneurs, please visit www.amberstone.com.
SOURCE Honey Mama’s
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