TORONTO — Pet food brand Open Farm has raised over $65 million in a funding round led by equity firm General Atlantic.
The investment marks General Atlantic’s first investment in the pet industry, and “they join the company’s leadership team and existing minority partner, Encore Consumer Capital, on Open Farm’s long-term growth journey,” according to a press release.
The funding will be used to “accelerate Open Farm’s mission to Do Some Good for animals and the planet, introduce the brand to millions of new pet parents, and support continued innovation to transform the way pets are fed through high-quality nutrition,” according to the release.
“Today’s pet parent is looking for exceptional nutrition that also aligns with their values,” said Isaac Langleben, co-founder and CEO of Open Farm. “We go to great lengths to create amazing foods, using the world’s best, ethically sourced ingredients, and take pride that every ingredient, in every bag of Open Farm, can be traced back to the source. We are so excited to partner with the team at General Atlantic as we continue to push our mission forward and establish Open Farm as the global leader in the premium pet food space.”
Open Farm is available at over 5,500 neighborhood pet retailers across North America, as well as online at OpenFarmPet.com. Its products range from dry dog food to fresh meals and supplements.
“Mission-driven brands are a key focus for General Atlantic, and we are thrilled to partner with the Open Farm team, a group of passionate entrepreneurs who have built an authentic brand on the global and growing interest in better pet food options,” said Andrew Ferrer, managing director at General Atlantic. “Open Farm is well-positioned to deliver on the modern food values of its customers with its diverse portfolio of ethically and sustainably sourced premium products.”