NEW YORK, NY – Pet Plate, a subscription service in the direct-to-consumer fresh pet food industry, announced that it has closed on $9 million in funding.
The Series A round was led by DFE Capital Management and 301 INC, the venture capital arm of General Mills. Additional investors include Marco Polo and Fernbrook Capital Management LLC, along with existing investors, The Yard Ventures and Castor Ventures.
Pet Plate’s meals “are kettle-cooked in a USDA facility, flash-frozen to lock in freshness, and delivered to consumers as a personalized subscription service,” according to a press release.
“There are no rendered meats or by-products, no artificial preservatives or additives, and the meals are made with human-grade meats, fruits and vegetables,” the release continued.
“The pet food category is one of the largest food categories in the U.S, and it’s still growing,” said John Haugen, managing director of 301 INC. “Pet owners are driving the humanization and premiumization trends as they look for the same quality meals to feed their pets as they want for themselves, which is why we believe in the customer-centric approach that Pet Plate has taken.”
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The funding will be used to expand the company’s product offering, including new recipes, organic treats and nutritional supplements. Pet Plate will expand its team and corporate infrastructure to scale the business and support growth. Additionally, Pet Plate will use the proceeds to expand its customer base with increased brand and performance marketing both online and offline, according to the release.
The funding round was led by DFE Capital Management and 301 INC, the venture capital arm of General Mills. Additional investors include Marco Polo and Fernbrook Capital Management LLC, along with existing investors, The Yard Ventures and Castor Ventures.
Pet Plate was founded in 2016 by Renaldo Webb. With an appearance on “Shark Tank” in December 2016, the company quickly grew into a national brand that to-date has served more than 9.2 million meals to over 300 breeds in 48 states and Washington, D.C.
