ARLINGTON, Va.--(BUSINESS WIRE)--Territory Foods, the leading chef-crafted, nutritionist designed meal delivery service tailored to personalized dietary preferences, announces the close of a $22 million funding round, led by notable investor U.S. Venture Partners (GoPro, Trunk Club, HotelTonight). Additional investors who contributed to the pivotal round include Upfront Ventures (Bird, ThredUp), Lewis & Clark Ventures, DF Enterprises, S2G Ventures (Beyond Meat, Sweetgreen), Gaingels (New Wave Foods, Recess), Middleland Capital, Finistere Ventures (GoodEggs), and Rethink Food Capital, as well as celebrities Abby Wambach and Vernon Davis. This round of funding brings Territory’s to-date total funds raised to $44 million – the most venture funding raised by a female led company in the ready-to-eat food category.
Territory sets itself apart in the fresh prepared meal category through a unique technology-enabled business model. The direct-to-consumer delivery of personalized, nutritionist-designed, chef-crafted meals is powered by a decentralized back-end marketplace, which partners with local chefs in the communities Territory serves, creating an ecosystem that enables consumers to support their local culinary small businesses.
Territory’s partners include notable chefs from LA-based Gracias Madre and Cafe Gratitude to Founding Farmers in the northeast and additional independent chefs across the country - of which 42% are women-owned and 38% being BIPOC-Latinx led businesses. This network approach is intrinsic to Territory’s long-standing core value of supporting its communities. Through an on-going partnership with Feeding America, the brand donates proceeds, meals, and volunteer hours to support the work of values-aligned local and national-nonprofits who are working to reduce food waste and fight hunger.
“This new round of funding will allow us to expand our chef community and provide our customers with even more options,” said Ellis McCue, CEO of Territory Foods. “We go to great lengths to create optimized, personalized meals for each consumer and empower our chefs with data about our customer’s taste and nutritional preferences so they can tailor each meal, ultimately providing more variety than other delivery options out there.”
“More than ever, we need true innovation in the food space,” says Rick Lewis, General Partner of U.S. Venture Partners. “We’re thrilled to partner with Territory Foods, a mission-driven brand who has built an incredibly distinctive business model by tapping local chefs who make healthy-eating attractive, tasty and attainable to consumers around the country. With 250% growth YoY, we look forward to working with the entrepreneurial team as they drive reach and innovation across the category and expand to a national footprint.”
About Territory Foods:
Territory Foods is a nutritionist designed, chef-crafted meal delivery platform that makes it simple to eat healthy. By partnering with a network of local chefs and health-forward restaurants across the country, Territory cooks up responsibly sourced, nutrient-rich meals from scratch that taste as good as they are for you. Territory's ever-rotating, regionally curated menus always feature fresh non-inflammatory ingredients that optimize whole body health, support a wide variety of dietary preferences, and have minimal to zero environmental impact. Territory is women-led, diversity-driven, and dedicated to giving back to local communities across the country. Territory launched in Alexandria, VA in 2012 and has grown to serve over 20 major U.S. markets from coast to coast. For more information please visit www.territoryfoods.com and follow them on Instagram, Facebook and Twitter.
About U.S. Venture Partners
U.S. Venture Partners (USVP) is a leading Silicon Valley venture capital firm, partnering with entrepreneurs to transform their ideas into world-changing companies. USVP has invested in over 400 companies spanning four decades, including: Box, Check Point Software, Guidewire, HeartFlow, HotelTonight, Imperva, Inari Medical, Inspire Medical Systems, Intersect ENT, Luminate, Omada Health, Pluto TV, Prevoty, Sequent, ThreatMetrix, Trunk Club, Trusteer, Vontu, Yammer and Zerto. USVP focuses on early-stage start-ups that transform cybersecurity, enterprise software, consumer and healthcare. The USVP team consists of former entrepreneurs, technologists, corporate executives, and financial professionals who assist with strategy, scaling, team building, product development, and business development. USVP is based in Menlo Park, California.