Trifecta Raises $20M in Series-B Funding Led by Spring Lake Equity Partners To Accelerate Already Rapid Growth
A Category Leader in the Ready to Eat Organic Meal Delivery Market
SACRAMENTO, CA / ACCESSWIRE / August 18, 2021 / Trifecta, a leading organic food delivery service in the United States, today announced the closing of a $20 million series-B funding round, led by Spring Lake Equity Partners (Plated, Signify Health), a Boston-based venture capital firm. Additional investors who contributed to the round include Data Point Capital (Draft Kings, Rent the Runway), Raptor Group (Airbnb, Spotify, Twitter, Uber), and Hall Group. While already profitable with an annual run rate north of $100MM, this round will enable the Company to continue growing at its current rapid pace. Over the past four years, the company has experienced annual average revenue growth of over 145.0% which has propelled Trifecta to become one of the largest brands in the industry.
Trifecta will be using the capital for further expansion of their core fully prepared meal delivery services and expanding immersive digital offerings as the Company strives to become the “Peloton of Nutrition”. This combination of convenient, organic meals with access to insightful digital content and performance tracking capabilities puts Trifecta in a position to dominate the nutrition landscape for years to come.
Since its inception, Trifecta has been able to help customers lose over 2,000,000 pounds by delivering healthy meals consciously crafted by world-class chefs. Meals are made with organic and gluten-free ingredients that are never frozen, and are sustainably caught or grass-fed. With free shipping to all 50 states, customers can select a meal plan, or meal prep option, that caters to a wide breadth of dietary preferences in six categories including Keto, Paleo, Vegan, Vegetarian, Clean Eating, and Classic Meals. All of which contribute to Trifecta’s goal of improving the nation’s nutrition and eating habits.
“The Trifecta team is thrilled to partner with such a strong, experienced group of investors as we continue our expansion into the quantified human and nutrition tracking world, improving our food supply chain, and expanding our already dynamic menu,” said Greg Connolly, Co-Founder and CEO of Trifecta. “We’ve now worked with hundreds of thousands of Americans, and know they want to see one-on-one personalization and guidance, motivation and analytics, and a constant variety in food and exercises. This capital will allow us to provide a suite of options as we become the ultimate nutrition solution for America.”
Trifecta’s partners include UFC Hall of Fame fighter Urijah Faber and 4x Mr. Olympia Jay Cutler, among others. Trifecta has worked with premier sports leagues, brands, and entities including F45 Training, UFC, PGA Tour, Team USA Weightlifting, The CrossFit Games, and Mr. Olympia to build a community that positioned itself as the top organic meal delivery service.
In connection with Spring Lake Equity Partners investment, Managing Partner Bob Forlenza will be appointed to Trifecta’s Board of Directors. With Forlenza’s appointment, Trifecta’s Board will be composed of five members.
“Trifecta has all the ingredients to become a dominant player in the health-oriented prepared meal industry, including an outstanding product, dedication to making healthy eating easy and enjoyable, clear messaging, and sophisticated marketing,” said Bob Forlenza, Managing Partner of Spring Lake Equity Partners, “We look forward to working with Greg and his talented management team to further accelerate the growth of the Company.”
Trifecta is the nation’s largest organic meal delivery service founded with a bold mission - to get America back into shape. Eliminating shopping, cooking, and cleaning by delivering fully cooked meals directly to customers’ doors in all 50 states, Trifecta’s food is the highest quality in the industry using organic, gluten-free ingredients that are never frozen, and sustainably caught/grass-fed. Trifecta offers meals in six categories to meet everyone’s needs including Keto, Paleo, Vegan, Vegetarian, Clean Eating, Classic Meal, and an A La Carte section. Trifecta has developed world-class partnerships with CrossFit, The PGA Tour, Mr. Olympia, Team USA Weightlifting, the Celiac Disease Foundation, and partners with the American Heart Association. The ‘Trifecta’ mobile applicationis the first all-in-one solution for people to track their food and performance utilizing Trifecta’s food database of 7+ million food items.
About Spring Lake Equity Partners
Spring Lake Equity Partners is a Boston-based growth equity firm. The firm invests equity capital primarily in later-stage, technology-oriented private companies in software, digital media, mobile, data center infrastructure, healthcare IT, and business/financial services. Spring Lake seeks to partner with great management teams to take their businesses to the next level, creating value for all stakeholders. To learn more please visit springlakeequitypartners.com.
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