Total amount raised
$7.6 Million
Latest funding date
09/01/2024
Location
Gainful has successfully raised funding over six rounds, with the latest being a Series B round led by District Ventures Capital. The company is backed by a total of 16 investors, including notable names like Round13 Capital.
Keep reading to explore the intricacies of Gainful's fundraising journey and the investors backing this personalized sports nutrition platform.
What Is Gainful?
Gainful is a personalized sports nutrition company that offers subscriptions to its Hydration line of electrolyte drink mixes. The company operates in the dietary supplements, health care, personal health, and wellness industries. It is based in San Francisco, California, and has an employee count ranging from 11 to 50.
Gainful also specializes in personalized nutrition products, particularly protein powders. The company emphasizes the quality and effectiveness of its products, supported by customer testimonials and science advisors. Gainful's unique approach allows customers to customize their protein flavors with flavor sticks, providing variety and flexibility.
How Much Funding Has Gainful Raised?
- Series B
- Amount Raised: Not publicly disclosed
- Date: September 2024
- Lead Investors: District Ventures Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Gainful's growth and expansion.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue developing personalized nutrition products.
- Series A
- Amount Raised: USD 7,500,000
- Date: January 2021
- Lead Investors: BrandProject, Courtside Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand market reach.
- Seed
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage product development.
- Seed
- Amount Raised: USD 120,000
- Date: October 2018
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate initial growth and market entry.
- Seed
- Amount Raised: Not publicly disclosed
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the company and develop the first product line.
Total Amount Raised: USD 7,620,000
Current Valuation: Not publicly disclosed
Key Investors
- District Ventures Capital
- Details: District Ventures Capital is a Canadian venture capital firm led by Arlene Dickinson. They focus on investing in consumer goods and services, particularly in the food and health sectors.
- Investment Focus Areas: Consumer packaged goods, health, wellness.
- Notable Investments: Not publicly disclosed.
- BrandProject
- Details: BrandProject is an early-stage venture capital firm that invests in consumer products and services. They participated in both Series A and Series B financing rounds for Gainful.
- Investment Focus Areas: Early-stage consumer products, services.
- Notable Investments: Not publicly disclosed.
- Courtside Ventures
- Details: Courtside Ventures is a venture capital firm that invests in early-stage companies across sports, media, and technology sectors. They led the Series A financing round for Gainful.
- Investment Focus Areas: Sports, media, technology.
- Notable Investments: Not publicly disclosed.
- Y Combinator
- Details: Y Combinator is a well-known startup accelerator that has funded thousands of startups, including some of the most successful tech companies. They participated in the seed round for Gainful.
- Investment Focus Areas: Early-stage startups across various sectors.
- Notable Investments: Not publicly disclosed.
- Round13 Capital
- Details: Round13 Capital is a growth-stage venture capital firm that specializes in technology companies. They participated in both Series A and Series B financing rounds for Gainful.
- Investment Focus Areas: Growth-stage technology companies.
- Notable Investments: Not publicly disclosed.
What's Next for Gainful?
With the recent Series B financing led by District Ventures Capital, Gainful is poised to expand its product offerings and market reach. The involvement of high-profile investors like BrandProject and Round13 Capital provides strategic guidance and networking opportunities, setting the stage for significant growth.
Future fundraising opportunities seem promising, as the successful Series B round positions Gainful for potential Series C funding. The addition of Arlene Dickinson to the board could also open doors to new markets and partnerships, further enhancing their growth trajectory.
However, challenges such as managing rapid growth, maintaining product quality, and staying competitive in the personalized health and wellness market could pose hurdles. Navigating these challenges will be crucial for Gainful's continued success.
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