SimplyProtein® Announces Latest Funding Round as it Continues North American Expansion

Growth capital set to accelerate distribution, along with investments in marketing and innovation

TORONTO, March 1, 2022 /PRNewswire/ -  Heading into its 20th year, the SimplyProtein® brand has its sights on 2022 being its most transformative yet as it continues to expand in the North American market. In November 2021, Wellness Natural Inc., the parent company of the SimplyProtein brand, raised $8.5M in a Series B funding round. This round is focused exclusively on growth capital to accelerate distribution gains in the US and Canada, scale eCommerce, increase investments in marketing programs and bring new product innovations to market.

"Plant-based protein continues to skyrocket in popularity with consumers," said Wellness Natural Inc. CEO Michael Lines. "For the SimplyProtein team, both our short-term and long-term goal is using our scale and straightforward approach to healthy snacking to reach communities and individuals who are often overlooked by the health and wellness CPG industry. We have some ambitious growth goals and the first step to achieving them is continuing to build a solid distribution foundation, allowing SimplyProtein products to be easily accessible across North America."

Distribution Gains & Scaling eCommerce
To meet consumers where they are at in terms of their ever-evolving shopping and purchasing behaviors, the SimplyProtein team is intentionally taking a multi-channel approach to its distribution. Distribution with key retailers continues to expand in the US, with SimplyProtein products now available at 400+ Meijer stores,  and the Northeast, San Diego, and Los Angeles Costco regions. Having seen a +268% compounded growth rate in the last 2 years, eCommerce remains a critical growth channel for the SimplyProtein brand as it continues to invest in digital shopping through partnerships with online retailers such as Amazon and through its own direct-to-consumer platform.

Investment in Leadership and Marketing
Building out the SimplyProtein leadership team in the US market has also been a critical step over the past year, with seasoned hires driving recent distribution gains and evolving the brand's approach to marketing. In mid-to-late 2021, SimplyProtein hired Steve Shaffer as the company's new Chief Customer Officer overseeing all sales along with Bethany Pfohl as the new Vice President of Marketing. Both bring a wealth of experience in the health and wellness food category to the SimplyProtein team with Steve previously working with brands such as Nutiva, Miyoko's and good culture and Bethany previously working with brands such as Kashi, Clif Bar and noosa yoghurt.

Product Innovation
The SimplyProtein team believes protein isn't just for athletes – it's for everyone and any body. This core value informs the brand's current product portfolio and new product innovations, including the all new plant-based Keto Energy Bites, an easy snacking option with a sweet and decadent flavor. The Keto Energy Bites are Keto Certified by Paleo Foundation, contain 2g of sugar, 13g of plant-based fats and 10g of plant-based protein, are  gluten-free and Non-GMO Project Verified. They are available in two flavors: Chocolate Coconut and Peanut Butter Chocolate. The SimplyProtein team will be exhibiting at the upcoming Natural Product Expo West in Anaheim, Calif., where attendees can sample the Keto Energy Bites along with the brand's signature crispy Snack Bars.

About SimplyProtein®
The SimplyProtein team believes the path to wellness is individual. Our passion is creating a wide range of snacks with plant-based energy, providing the fuel for individuals to live life on their own terms. The SimplyProtein brand got its start in 2002 in health food stores throughout Toronto, Canada and is now owned and operated by Wellness Natural Inc. and available throughout North America. All SimplyProtein products are made with at least 10g of plant-based protein, feature less than 3g of sugar, are gluten-free and Non-GMO Product Verified. To learn more, visit simplyprotein.com, @SimplyProtein on Instagram and @SimplyProteinUSA on Facebook.

SOURCE Wellness Natural Inc.

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