Total amount raised
$7.6 Millions
Latest funding date
09/01/2024
Location
Gainful has successfully raised significant funding through multiple rounds, with its latest Series B round led by District Ventures Capital. The company has attracted a total of 16 investors, including Round13 Capital.
Keep reading to explore the intricacies of Gainful's fundraising journey and the investors backing this innovative platform.
What Is Gainful?
Gainful, founded in 2017 by Eric Wu and Jahaan Ansari, is a personalized sports nutrition company based in San Francisco, California. The company operates within the dietary supplements, health care, personal health, and wellness industries.
With an employee count ranging from 11 to 50, Gainful offers a subscription service for customizable protein powder blends and other nutrition products. Their offerings include whey, keto, and plant-based protein formulas, as well as electrolyte drink mixes, pre-workout supplements, and more.
How Much Funding Has Gainful Raised?
- Series B
- Amount Raised: Not specified
- Date: September 2024
- Lead Investors: District Ventures Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance subscription services.
- Venture Round
- Amount Raised: Not specified
- Date: February 2023
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at supporting growth and expansion.
- Series A
- Amount Raised: $7.5M
- Date: January 2021
- Lead Investors: BrandProject, Courtside Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's mission of providing personalized health products and dietitian support.
- Seed Round
- Amount Raised: Not specified
- Date: June 2020
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at early-stage development and product launch.
- Seed Round
- Amount Raised: $120K
- Date: October 2018
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Seed Round
- Amount Raised: Not specified
- Date: January 2018
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at early-stage development and product launch.
Total Amount Raised: $7.62M
Current Valuation: Not publicly disclosed
Key Investors
- District Ventures Capital
- Details: District Ventures Capital is a Canadian venture capital firm that focuses on investing in companies within the consumer goods sector. Arlene Dickinson from District Ventures Capital has joined Gainful's board of directors.
- Investment Focus Areas: Consumer goods, health, wellness
- Notable Investments: Not publicly disclosed
- BrandProject
- Details: BrandProject is a venture capital firm that invests in early-stage consumer products and services companies. They led the Series A financing round for Gainful.
- Investment Focus Areas: Consumer products, technology, health
- Notable Investments: Not publicly disclosed
- Courtside Ventures
- Details: Courtside Ventures is a venture capital firm investing in early-stage companies across sports, media, and gaming. They participated in the Series A financing round for Gainful.
- Investment Focus Areas: Sports, media, gaming
- Notable Investments: Not publicly disclosed
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups. They participated in the early seed rounds for Gainful.
- Investment Focus Areas: Technology, software, consumer products
- Notable Investments: Airbnb, Dropbox, Stripe
- Round13 Capital
- Details: Round13 Capital is a Canadian venture capital firm that invests in growth-stage technology companies. They participated in both Series A and Series B financing rounds for Gainful.
- Investment Focus Areas: Technology, consumer products
- 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 prominent investors like BrandProject and Round13 Capital provides strategic support and networking opportunities, setting the stage for significant growth. The addition of Arlene Dickinson to the board of directors brings valuable expertise that can further drive the company's expansion.
Future fundraising opportunities seem promising, given the successful Series B round and the backing of high-profile investors. Gainful may pursue additional funding rounds to support further expansion and possibly explore strategic acquisitions to enhance their product offerings and market position. However, challenges such as scaling operations efficiently and managing increased competition will need to be navigated carefully to ensure sustainable growth.
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