Outstanding Foods Raises $10M for Plant-Based Snacks
Outstanding Foods continues to grow its plant-based snack portfolio, thanks to its latest financing round that raised $10 million. The series A round was led by SternAegis Ventures.
With this additional capital, Outstanding Foods aims to expand both its retail footprint as well as its direct-to-consumer (DTC) marketing efforts in support of its first product, PigOut Pigless Pork Rinds, and its most recent launch, Addictively Delicious TakeOut Meal-In-A-Bag Puffs. Outstanding products are currently sold in retailers nationwide, including locations at Walmart, The Kroger Co., Whole Foods Market and southwest 7-11 locations.
Outstanding will also use the proceeds of this round of financing to bolster its research and development team, led by co-founder Chef Dave Anderson, to accelerate the development of new market-ready plant-based products. Notable strategic investors Kenneth Harris, former chairman of the board of Enjoy Life Foods, and Javier Valéz-Bautista, former CEO of Mission Foods and current CEO of El Dorado Foods, both invested in the financing.
"We've experienced explosive growth in 2020 in both our DTC and retailer channels, and feedback on our Addictively Delicious and nutritious products has been outstandingly positive," said Bill Glaser, CEO and co-founder of Los Angeles-based Outstanding Foods. "This Series A financing will enable us to accelerate our mission of making it easier for anyone to eat healthier plant-based foods. "
"We are committed to supporting the Outstanding Foods team in its mission to develop a plant-based snack products global brand," said Cassel Shapiro, CFA, partner of New-York based SternAegis Ventures. "Outstanding Foods is led by passionate serial entrepreneurs seeking to push the boundaries of what's possible with plant-based ingredients." SternAegis also led Outstanding’s $5 million financing round back in June 2020.
Additionally, celebrities are jumping on the investment bandwagon. For example, Outstanding revealed in March 2020 that entertainment icon Snoop Dogg was investing in its PigOut Pigless Pork Rinds, and in June, the plant-based brand welcomed Los Angeles Laker JaVale McGee to its roster of famous investors.
Outstanding was co-founded by Glaser and Anderson out of a shared, decades-long love of delicious plant-based foods. Beginning with 100% plant-based ingredients packed with protein and other health benefits, each Outstanding product is free from gluten, soy, GMOs, trans fats and cholesterol.