The black female-founded snack company Partake Foods has secured close to $4.8 million from the series A funding round in late December. Investors included Rihanna, Kevin Johnson’s Black Capital, Seattle Seahawks’ Bobby Wagner, Black Star Fund, Once Upon a Farm CEO John Foraker, CircleUp Growth Partners, FF2032 and Marcy Venture Partners.
More than 50% of Partake Foods’ total $7.5 million in funding has come from Black investors such as Jay-Z’s VC fund, Marcy Venture Partners, and Grammy Award-winning singer H.E.R.
Partake Foods founder and CEO Denise Woodard is the first woman of color to raise $1 million for a food startup. At the start of 2020 the brand has launched in 350 stores and plans to grow to 5,500 by the end of 2021. Woodard plans to use the new funding to expand her team, marketing efforts, product line and distribution.
The five vegan and gluten-free cookie varieties are available online and in select Target, Whole Foods, Sprouts, Wegman’s, Raley’s, and Fresh Market locations.