Nutrition Shopping Platform Reveals $4.6M 1st-Round Seed Funding
Sifter SP LLC has revealed first-round seed funding of $4.6 million to accelerate the rollout of its personalized nutrition shopping platform, which caters to the 200 million consumers seeking products that align with their diets, medical needs and lifestyles. The round was led by Valor Equity Partners through its Valor Siren Ventures fund and Hyde Park Angels (HPA), in accordance with its strategic focus on companies addressing personalized nutrition and wellness.
Evanston, Illinois-based Sifter employs proprietary technology to address the convergence of two major trends: the personalization of both nutrition and shopping. Andrew and Thomas Parkinson, creators of pioneering e-grocer Peapod and consumer product data provider ItemMaster (now Syndigo), developed the platform to meet the need for a more efficient way to shop for special diets and preferences.
“Sifter has the potential to transform how people buy food online,” noted Pete Wilkins, managing director of Chicago-based HPA. “With this personalized platform, customers can easily find and buy products that align with their nutritional priorities. We are excited to support the team as it continues to grow.”
Shoppers provide their own diet criteria in a MyDiet Profile that includes the ability to exclude products with allergens or specific ingredients, and various profiles can be set up for consumers and their family members. Sifter’s technology matches only qualified products to the active profile from an assortment of 100,000-plus items. Once the products are selected, shoppers choose one of Sifter’s retail partners to make their purchase. Among these are Walmart, Amazon, Target, Walgreens, Stop & Shop, Giant, and Kroger-owned stores.
The free-to-use platform targets the $100 billion market driven by special-diet shoppers. This sales growth, driven by COVID and rising interest in health, created urgency for an improved online shopping experience, spurring more personalization, product discovery and demand for accurate product details.
Sifter’s business model is based on delivering these special-diet shoppers to retailers and CPGs seeking more efficient and targeted engagement. Additionally, Sifter can serve as a resource for health care professionals and dietitians because it makes it easy for consumers to follow critical dietary instructions.
“With 30 years of experience in both online grocery and product data, our passion has been to create a simple, easy-to-use platform that helps people better manage their health through diet and nutrition,” said Andrew Parkinson. “In doing this, we also support product discovery by shoppers who value a brand’s benefits, story and mission. I think we’re accomplishing this with Sifter.”
The platform's website launched in February of this year.
Bentonville, Arkansas-based Walmart operates more than 11,300 stores under 58 banners in 27 countries, and e-commerce websites, employing 2.2 million-plus associates worldwide. Walmart U.S. is No. 1 on The PG 100, Progressive Grocer’s list of the top food and consumables retailers in North America, while Walmart-owned Sam’s Club ranks No. 9 on the list. Seattle-based Amazon is No. 2; Cincinnati-based Kroger is No. 3; Deerfield, Illinois-based Walgreens is No. 4; Minneapolis-based Target Corp. is No. 7; and Ahold Delhaize USA, a division of Zaandam, Netherlands-based Ahold Delhaize and parent company of Giant and Stop & Shop, is No. 11.
