Total amount raised
$367.5 Millions
Latest funding date
12/1/2016
Location
HelloFresh has successfully raised significant funding across multiple rounds, with notable investors such as Baillie Gifford backing the company. The platform specializes in delivering pre-portioned ingredients and step-by-step recipes directly to customers' doors.
Keep reading to explore the intricacies of HelloFresh's fundraising journey and the investors supporting this innovative meal kit delivery service.
What Is HelloFresh?
HelloFresh, founded in 2011 in Berlin, Germany, is a meal kit delivery service that simplifies home cooking by providing pre-portioned ingredients and step-by-step recipes. The company was established by Bryan Ciambella, Dominik Richter, Hamish Shephard, Luca Ranaldi, and Thomas Griesel.
With a mission to make cooking easy and accessible, HelloFresh offers various meal plans tailored to different dietary preferences and lifestyles. Their service aims to eliminate the hassle of meal planning and grocery shopping, allowing customers to enjoy wholesome, home-cooked meals.
Today, HelloFresh employs over 10,001 people, making it a significant player in the food subscription industry. The company continues to innovate, focusing on sustainability and reducing packaging waste.
How Much Funding Has HelloFresh Raised?
- Series B
- Amount Raised: $10M
- Date: December 2012
- Lead Investors: Vorwerk Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance operational capabilities.
- Series C
- Amount Raised: $7.5M
- Date: September 2013
- Lead Investors: Phenomen
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up production and improve logistics.
- Series D
- Amount Raised: $50M
- Date: June 2014
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and marketing efforts.
- Series E
- Amount Raised: $126M
- Date: February 2015
- Lead Investors: Rocket Internet
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To prepare for a potential IPO and expand into new markets.
- Series F
- Amount Raised: €75M
- Date: September 2015
- Lead Investors: Baillie Gifford
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and improve customer experience.
- Series G
- Amount Raised: €85M
- Date: December 2016
- Lead Investors: Baillie Gifford
- Valuation at Round: $2.9 billion
- Motivation Behind the Round: To support expansion and marketing efforts ahead of a North American launch.
Total Amount Raised: $268.5M
Current Valuation: $2.9 billion
Key Investors
- Baillie Gifford
- Details: Baillie Gifford is an investment management firm based in Edinburgh, Scotland. The firm is known for its long-term investment approach and focuses on growth companies.
- Investment Focus Areas: Technology, Healthcare, Consumer Goods
- Notable Investments: Tesla, Amazon, Spotify
- Rocket Internet
- Details: Rocket Internet is a Berlin-based company that builds and invests in internet companies globally. The firm focuses on creating and scaling online business models.
- Investment Focus Areas: E-commerce, Fintech, Travel
- Notable Investments: Zalando, Delivery Hero, Jumia
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. The firm invests in growth-stage technology, software, and internet businesses.
- Investment Focus Areas: Software, Internet, Data
- Notable Investments: Twitter, Shopify, Wix
- Phenomen
- Details: Phenomen is a venture capital firm that invests in early-stage technology companies. The firm focuses on disruptive technologies and innovative business models.
- Investment Focus Areas: Technology, Artificial Intelligence, Fintech
- Notable Investments: Notion, Stripe, Robinhood
- Vorwerk Ventures
- Details: Vorwerk Ventures is a venture capital firm that invests in consumer-focused companies. The firm is an independent investment arm of the Vorwerk Group.
- Investment Focus Areas: Consumer Goods, Health and Wellness, E-commerce
- Notable Investments: Thermomix, HelloFresh, Flaschenpost
What's Next for HelloFresh?
As HelloFresh eyes expansion into North America, the potential for growth is immense. The meal kit delivery market is booming, and HelloFresh's valuation of $2.9 billion underscores the vast opportunities ahead. With a recent €85 million funding round, the company is well-positioned to capture a significant market share.
Future fundraising could include an IPO, a move that would provide substantial capital for further expansion. However, the path forward is not without challenges. High marketing expenses and fierce competition in the meal delivery sector could impact profitability. Navigating these hurdles will be crucial for HelloFresh's sustained growth and success.
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