Califia Farms Valuation, Funding & Investors

Califia Farms is valued at $1B as of January 2020.

Last Califia Farms valuation

$1B

Series D · Jan 2020

Last Califia Farms funding round

$225M

Series D · Jan 2020

Cumulative funding Califia Farms raised

$340M

across 4 funding rounds

Key investors in Califia Farms

  • Stripes
  • Temasek
  • Qatar Investment Authority
  • Claridge
  • Ambrosia Investments
  • Accord Financial

Califia Farms Overview

About Califia Farms

Califia Farms is a Los Angeles-headquartered producer of plant-based beverages including almond milk, oat milk, and coffee creamers sold in over 10,000 US stores. The company manufactures nutrient-dense drinks without carrageenan, using California-sourced nuts and grains in flavors like vanilla and mocha. Distributed through Kroger, Whole Foods, and Target, Califia operates a facility in Bakersfield producing 100 million units yearly. Founded in 2010, it expanded into ready-to-drink coffees via partnerships with Keurig Dr Pepper.


Founded

2010

HQ

United StatesBakersfield, CA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$1B (Jan 2020)

Califia Farms Valuation

Califia Farms is currently valued at $1B, based on its Series D in January 2020.

The $225M round was led by Qatar Investment Authority, with participation from Temasek and Claridge.

Califia Farms valuation by funding round

Califia Farms valuation by funding round
DateStageValuation
Jan 2020Series D$1B

Califia Farms Funding History

Califia Farms has raised a total of $340M across 4 funding rounds.

Califia Farms' first fundraising round was a $50M Series A in October 2015. The most recent completed round was a $225M Series D in January 2020.

Califia Farms funding rounds

Califia Farms funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2020Series DQatar Investment Authority (lead); Temasek; Claridge$225M$1BCalifia Farms, a Los Angeles-based plant-based beverage company founded in 2010, manufactures dairy-free milks, creamers, ready-to-drink coffees, and oat-based products like Ubermilk. The company completed a $225 million Series D funding round on January 14, 2020, led by Qatar Investment Authority with participation from Temasek, Claridge, Green Monday Ventures, and a Latin American family office. This round valued the company at $1 billion and marked one of the largest private capital raises in the natural foods sector, with new investors taking a minority stake and joining the board alongside founder Greg Steltenpohl and prior backers like Sun Pacific, Stripes, and Ambrosia. Proceeds from the financing are earmarked for expanding the oat platform, launching new product lines, increasing production capacity, investing in R&D, deepening U.S. market penetration, and pursuing global expansion. The funding builds on prior raises, including $50 million in 2018 and earlier $115 million total, enabling innovations like probiotic yogurts and protein-enriched oat drinks amid surging demand for plant-based alternatives. U.S. oat milk sales had grown significantly to $29 million by then, up from $4.4 million in 2017, reflecting broader industry momentum driving M&A. Qatar Investment Authority's involvement aligns with its strategy to invest in high-growth sectors like food tech, leveraging its global reach for Califia's international ambitions, while Temasek and Claridge add expertise in consumer products and long-term stewardship. Califia positions itself to disrupt the over $1 trillion global dairy and ready-to-drink coffee markets with minimally processed, nutrient-rich plant-based options focused on health, wellness, and sustainability.
Jul 2018Undisclosed stageAmbrosia Investments (lead); Sun Pacific Holding; Stripes$50M-Califia Farms, a California-based leader in plant-based food and beverages founded in 2010, secured over $50 million in a funding round announced in July 2018, led by Luxembourg-based Ambrosia Investments with participation from existing investors Sun Pacific and Stripes Group. The company, known for its portfolio of 70 products across five categories including plant-based milks, non-dairy creamers, cold brew coffees, and newly launched probiotic dairy-free yogurts, used the funds to expand manufacturing operations in Bakersfield, California, and enhance product development in sustainability, health, wellness, and plant-based innovation. This round built on prior investments, including a $50 million raise from Stripes Group in 2015 and a $15 million lease structure deal with CapX Partners in 2017, marking Califia as a repeat recipient of significant capital to scale its operations. Ambrosia Investments, led by former Louis Dreyfus chairman Serge Schoen, emphasized Califia's disruptive growth and long-term potential in the plant-based sector. Actor Leonardo DiCaprio also invested an undisclosed amount alongside celebrity supporters. The investment supported Califia's go-to-market strategy for recent launches and facility expansion, appointing Sandeep Patel, a former Barclays and Goldman Sachs executive, as CFO to strengthen financial frameworks.
Sep 2017Series AAccord Financial (lead)$15M--
Oct 2015Series AStripes (lead)$50M-Califia Farms, a California-based plant-based beverage company co-founded in 2010 by Sun Pacific and Greg Steltenpohl, received a $50 million minority investment from Stripes Group in September 2015, marking its first outside funding while remaining majority-owned by Sun Pacific. The capital was allocated to expand production and distribution, R&D, hiring, sales, marketing, and digital brand efforts. The company offers almond milk, cold-brew coffee, aguas frescas, citrus juices, and coffee creamers, positioning itself as one of the fastest-growing natural beverage firms in the US amid surging plant-based demand, including 40% annual almond milk sales growth. Stripes Group, a New York-based growth equity firm focused on consumer brands, led the round into the newly formed Califia Farms LLC, with managing partner Dan Marriott and partner Karen Kenworthy joining the board. Califia reported 177% year-over-year growth in almond milk sales for the year ending March 2015 and was the fastest-growing natural coffee brand as of June 2015 per SPINS data. The investment supported rapid innovation in premium, healthful plant-based products. This 2015 Stripes round preceded later financings, including a $50 million raise led by Ambrosia Investments around 2018 with Sun Pacific and Stripes participation, a $15 million CapX Partners lease in 2017, and a $225 million Series D in January 2020 led by Qatar Investment Authority with Temasek, Claridge, Green Monday Ventures, and others, funding oat platform expansion, production, R&D, US penetration, and global growth to disrupt dairy and ready-to-drink coffee markets.

Who has invested in Califia Farms?

7 investors have backed Califia Farms across its funding rounds, including Stripes, Temasek, Qatar Investment Authority, Claridge, Ambrosia Investments and Accord Financial.

Lead investors include Qatar Investment Authority, Ambrosia Investments, Accord Financial and Stripes.


Califia Farms Investors

Investors in Califia Farms by funding rounds participated
InvestorHQRoundsRoleFirst check
StripesUnited StatesNew York City, NY2LeadOct 2015
TemasekSingaporeSingapore1ParticipantJan 2020
Ambrosia InvestmentsLuxembourgLuxembourg1LeadJul 2018
Accord FinancialCanadaChicago, IL1LeadSep 2017
Qatar Investment AuthorityQatarQatar1LeadJan 2020

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Acquisitions by Califia Farms

Califia Farms has acquired 1 company to date.

Last acquisition by Califia Farms was on July 24th 2024. Califia Farms acquired Uproot for undisclosed valuation.


Latest Acquisitions by Califia Farms

Uproot
Description
Uproot is a New York-based supplier of on-demand plant milk dispensers for coffee shops and cafeterias. Machines dispense oat, almond, soy, and custom blends from bulk concentrate, eliminating single-use cartons. Founded in 2018, Uproot installs units in venues across the Northeast United States including New York City cafes.
HQ CountryUnited States
HQ City
New York City, NY
Deal Date24 Jul 2024
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Califia Farms Competitors

Califia Farms competitors include listed companies like Scandi Standard and Toly Bread, and private ones like Cirkul, Cometeer, Fruitist and Kopi Kenangan.

Public and private companies comparable to Califia Farms
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CirkulUnited StatesUnited StatesPrivate--$1B-
CometeerUnited StatesUnited StatesPrivate--$1B-
FruitistUnited StatesLos Angeles, CAPrivate--$1B-
Kopi KenanganIndonesiaJakartaPrivate$184M-$1B5.4x
Scandi StandardSwedenSwedenPublicly listed$1.4B$103M$1B0.8x
Toly BreadChinaChinaPublicly listed$812M$123M$997M1.4x

Califia Farms Public Comps

Califia Farms is still privately-owned, but its public comps include Scandi Standard, Toly Bread, AGT Food and Ingredients, Cobram Estate Olives, Grupo Herdez, Armada Gida, Princes Group, BellRing Brands, Isfelag and Orion Holdings.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Scandi Standard$1.4B$103M0.9x0.8x12.3x10.3x
Toly Bread$812M$123M1.4x1.4x9.4x9.2x
AGT Food and Ingredients$59M$56M18.1x0.5x18.9x7.5x
Cobram Estate Olives$191M$7M7.1x5.8x183.3x23.6x
Grupo Herdez$2.2B$440M0.7x0.9x3.6x5.8x
Armada Gida$250M$26M4.3x-41.7x-
Princes Group$2.5B$200M0.3x0.3x3.6x3.3x
BellRing Brands$2.3B$376M0.9x0.9x5.7x7.3x

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Common questions about Califia Farms

When was Califia Farms founded?Califia Farms was founded in 2010.
Where is Califia Farms headquartered?Califia Farms is headquartered in Bakersfield, CA, United States.
Is Califia Farms publicly listed?No, Califia Farms is a private, VC-backed company.
What is Califia Farms' valuation?Califia Farms was last valued at $1B in its Series D in January 2020.
How much funding has Califia Farms raised?Califia Farms has raised $340M across 4 funding rounds.
What was Califia Farms' last funding round?Califia Farms' last funding round was a $225M Series D in January 2020, led by Qatar Investment Authority.
Who are Califia Farms' investors?Califia Farms' investors include Stripes, Temasek, Ambrosia Investments, Accord Financial, Qatar Investment Authority, Sun Pacific Holding and Claridge.
Which companies are comparable to Califia Farms?Companies comparable to Califia Farms include Cirkul, Cometeer, Fruitist, Kopi Kenangan, Scandi Standard and Toly Bread.
How many companies has Califia Farms acquired?Califia Farms has acquired 1 company, including Uproot.

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