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California healthy snack startup NatureBox raises $18M in Series B funding
Healthy snack provider NatureBox has secured $18 million in its second funding round with Canaan Partners as the lead investor. General Catalyst and Softbank Capital also contributed to the financing, according to Pulse 2.0.
Under the terms of the investment deal, Warren Lee of Canaan Partners will become part of the board of NatureBox, the report added.
Silicon Valley Business Journal cited NatureBox chief executive officer (CEO) Gautam Gupta saying: "Our mission is unchanged, to make it easier for consumers to find healthier food choices, but we found new ways to do that. There is no one product that everybody selects and what they like seems to change every month."
NatureBox functions as a personalized food shop for health-conscious consumers. The company makes its own treats and sends boxes containing the orders of its customers. The firm has now added specialized options such as non-gluten or vegan to its catalog of 120 healthy snack options. Before, each $20 NatureBox contained different type of snacks. Now, consumers can choose to order the added $30-option with 10 snacks and the $50-option containing 20 snacks, the report detailed.
NatureBox has expanded from having 8 employees when it began last year to 50 employees. With a million boxes shipped to its customers in 2013, the company is aiming to triple its shipping for 2014, Silicon Valley Business Journal reported.