FRESHLY ACQUIRED BY NESTLE USA FOR USD$1.5 BILLION
Thanks Mike and Carter for the cold email in April 2014 telling us about your mission to make healthy eating more affordable and convenient- and for the delicious food that convinced us to start a conversation. The boxes of fresh, chef-cooked meals arrived from a company called F3 Foods (Fast, Functional and Fresh), postmarked from Phoenix, Arizona. We devoured them and were on a plane to Arizona in a week.
The team were working out of a converted Sprouts commissary at the time. Mike and Carter were clearly founders who we knew would run through walls to make the business successful. Their first step in this journey was their ability to make healthy, delicious food at scale.
In June 2014, we became the company’s first institutional backer. The company rebranded to Freshly and relaunched on 1/1/2015. We still remember the excitement from the 83 orders that first day as Freshly.com.
What a ride it has been, having a front row seat watching the Freshly team build a business that is now shipping more than 1 million meals per week. Along the way, we were joined by great investing partners, including White Star Capital, Highland Capital, Insight Venture Partners and Nestle. With Freshly joining Nestlé, we know this is just the beginning. Now to harness Nestlé’s powerful platform to plow forward with their mission to make healthy food accessible to all!
