Partake Raises $11.5M To Scale Brand And Social Impact Goals

Allergen-friendly bakery brand Partake announced it has raised $11.5 million to expand distribution, continue launching new innovations, grow its team members and expand marketing efforts. The company has already made two new hires since the round closed earlier this year including former Beyond Meat SVP, Kelli Wilson, now SVP of operations and Regulatory Compliance, and VP of retail sales Beth Hanson, formerly of Purely Elizabeth.

The round saw participation from new investors Cleveland Ave’s CAST US fund, Fearless Fund, Supply Change Capital and Kaya Ventures as well as existing partners including Marcy Venture Partners, CircleUp Growth Partners, Black Star Fund, FF2032 (Lotus Bakeries’ venture arm) and Black Capital. This latest round brings the New Jersey-based food maker’s total capital raised to $19 million to-date.

Partake CEO Denise Woodard reportedly said she aimed to build a team of investors who prioritize supporting diverse and female leadership with this latest round and believes that effort will support the brands broader-reaching mission toward inclusivity.

“Since our 2017 launch, we have focused on our core mission of bringing delicious, allergy-friendly foods to consumers and have been excited that our products appeal to health conscious consumers, with and without food allergies,” said Woodward. “We take food allergies and our commitment to the food allergy consumer seriously, producing in a top 9 allergen free facility, meticulously sourcing our ingredients, and testing finished products. We have, and always will, make top 9 allergy friendly products.”

The brand markets a variety of products including a 8-SKU line of cookies, seasonal items, pizza crust mix as well as pancake, waffle and other baking mixes, sold in over 9,000 total doors, including retailers like Whole Foods, Target, Walmart and Sprouts.

Founded with a mission to give all consumers access to snacks regardless of dietary restrictions, Woodard has continued to execute that mission, both inside and outside of Partake’s portfolio. In the midst of the pandemic, she founded the Black Futures in Food and Beverage Fellowship Program which selects applicants from four Historically Black Universities (HBU) to participate in a seven-week CPG crash course complete with additional career development training. That program has continued to grow over the past two years and its latest cohort began yesterday.

Earlier this year, Partake partnered with nonprofit organization No Kid Hungry. Woodard said the brand will also use the new funding to expand and support its social impact goals and aim to “eradicate” food insecurity among children.

The company’s last capital raise in January 2021 has allowed it to expand beyond cookies with a line of pancake, waffle and baking mixes. With the new funds, the brand will continue developing allergy friendly foods while entering new categories and launching seasonal innovations.

According to a report from Future Market Insights, the allergy-friendly food category is expected to grow 8.6% and reach a $108 billion valuation by 2030. Partake products are available in 9,000 doors nationwide including Whole Foods Market, Walmart, Target, Kroger, Sprouts Farmers Market and the brand currently ranks as the second, top-selling allergy-friendly food maker in the U.S., per recent SPINS data.

This article has been updated with comments from Partake cofounder and CEO Denise Woodward.