Sun Basket Raises $30 Million in New Series E Funding Led by PivotNorth Capital
Funding Accelerates Sun Basket's First Mover Advantage as the Essential, Everyday Healthy Eating Platform
SAN FRANCISCO, May 21, 2019 /PRNewswire/ -- Sun Basket, the leading healthy meal delivery service, today announced a Series E investment of $30M led by PivotNorth Capital to accelerate its first-mover advantage in direct-to-consumer healthy food. The round also included investments from Sapphire Ventures, August Capital, Founders Circle, Unilever Ventures, Baseline Ventures, Relevance Capital, Accolade Partners, and Correlation Ventures. The funding will enable Sun Basket to further evolve into an omni-channel healthy eating platform by expanding their offerings to include breakfast, lunch and dinner -- personalized for any lifestyle. Sun Basket is one of the fastest-growing meal delivery services in the United States, having grown at 80% CAGR over the past three years. This latest investment round brings the company's overall funding to $125M.
"We're thrilled to have the strong support of our investors who share our vision for building the leading personalized healthy eating platform," said Adam Zbar, CEO Sun Basket. "Food is a $1T market ripe for online disruption, and Sun Basket will continue to innovate, focusing on our customers' top three needs: health, ease, and personalization."
To drive continued revenue growth, Sun Basket plans to roll-out innovative healthy new food products, a highly personal AI-powered digital user experience, and strategic partnerships that drive user acquisition and brand awareness. With the best unit economics in the space, Sun Basket will utilize automation to increase margins and focus the business on its highest value revenue initiatives to further enhance the company's profitability.
"Adam has built a platform which personalizes and curates meals to optimize a healthy lifestyle for people with a wide variety of dietary preferences," said Tim Connors, founder of PivotNorth Capital and a Sun Basket investor. "With the incredibly large and influential millennial population increasingly prioritizing healthy meals and snacks, we believe they have the ability to build a category-defining company that has huge growth potential and is profitable."
For more information about Sun Basket, please visit www.sunbasket.com.
About Sun Basket
Founded in San Francisco in 2014 by Webby-winner Adam Zbar and Chef Justine Kelly, former Head Chef at the Slanted Door, a James Beard Award-winning restaurant, Sun Basket is an innovative, healthy cooking service. We deliver the best organic produce, clean ingredients and easy-to-cook, delicious recipes weekly to your door. Sun Basket saves busy people the time of planning and shopping so they can focus on the fun part of cooking and enjoying the meal. Personalized for your lifestyle and diet, Sun Basket provides a seasonally inspired Chef's Basket, along with Paleo, Lean & Clean, Gluten-Free, Vegan, Vegetarian, Pescatarian, Mediterranean, Diabetes-Friendly, and Quick & Easy meal plans. Based in San Francisco, Sun Basket is backed by top-tier venture capitalists. Dr. David Katz serves as Chief Science Advisor. For more information, please visit https://sunbasket.com or find the brand on Facebook, Instagram, Pinterest or Twitter.
SOURCE Sun Basket
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