HelloFresh is one of the leading meal kit delivery services in the US, – and the only one that offers nationwide delivery – providing the ultimate tasty, healthy and convenient meal option to all Americans.
Those hungry Americans must agree, as the company just closed a healthy $125 million in Series E funding in a round, led by Rocket Internet and Insight Venture Partners, with participation from other investors, including Phenomen Ventures and Vorwerk Direct Selling Ventures.
For the record, HelloFresh raised one of the 20 largest NYC funding rounds of 2014, and US CEO, Seth Goldman, explains why investors keep coming back for more…
Tell us about your service.
HelloFresh is one of the leading meal kit delivery services in the US (the only one that offers nationwide delivery), providing the ultimate tasty, healthy and convenient meal option to all Americans.
How is it different?
HelloFresh puts an emphasis on health. We create recipes comprised of farm-fresh, seasonal ingredients. Our in-house, registered dietician reviews each recipe to insure that every meal is well-balanced. Further, we are the ONLY meal-kit delivery service that offers the nutritional read out for each meal on our website and recipe cards.
We’re a leader in designing the quickest and easiest meals to prepare, averaging around 35 minutes per meal. Each meal in accompanied with a simple five to six step recipe.
What are some of your most popular dishes?
Seth’s Asian Pork Dumplings, Toasted Brown Rice Bowl. Walnut Crusted Salmon, Warm Tortellini Salad, Seared Steak, Asparagus and Squash Risotto, Soy Glazed Steak. To name just a few.
How many meals are you currently delivering each month?
The company ships well over one million meals per month worldwide and can deliver to 430 million people globally.
What market you are targeting and how big is it?
Females $75K +, busy, time pressured, health conscious, curious/adventurous
What’s your business model?
HelloFresh is a weekly meal-kit delivery. Our chefs create five mouthwatering recipes each week, and our customers select three of them. We send all the pre-measured ingredients and easy-to-follow recipe cards to doorsteps across the US. We take the stress out of home cooked meals by doing all the planning, shopping, and delivery. All our customers need to do is explore new cuisines by cooking delicious and nutritious meals at home.
What was the funding process like, and how was it different this time around?
Our funding round was met with great enthusiasm. We met with outstanding investors from around the world who were excited with the opportunity. The difference between this round and last is that awareness for the category has grown, and there is an even bigger appetite for investment.
What are the biggest challenges that you faced while raising capital?
The challenge was finding investors who understand our business and our goals. This is why we decided to strengthen our relationship with existing investors.
What factors about your business led your investors to write the check?
Investors are excited about the market size potential and how consumers are embracing our fantastic product. As a result, our revenue growth is strong and we’re excited about the next stage for the company.
What are the milestones you’ve set for the next six months?
The milestones are to enhance the customer experience through key initiatives, such as using technology to increase flexibility for its customers, building facilities to improve the supply chain and hiring great people.
What do you plan to do with new funding?
HelloFresh plans to invest the new funding on further enhancing the customer experience through key initiatives such as increasing flexibility for its customers and integrating along the value chain.
When you don’t cook at home, what’s your favorite NYC restaurant?
For amazing Peruvian Roast Chicken: Pio Pio
For Classic and Delicious Italian: Gennaro
For Brunch: the Cream cheese and Banana stuffed French toast at Good on Greenwich