Gousto Revenue, Valuation, Funding & Investors

Gousto is valued at $2.1B as of February 2023.

Last Gousto valuation

$2.1B

Undisclosed stage · Feb 2023

Last Gousto funding round

$60M

Undisclosed stage · Feb 2023

Gousto revenue

$415M

Secondary · Feb 2022

Key investors in Gousto

  • MMC Ventures
  • ACF Investors
  • Unilever Ventures
  • Business Growth Fund
  • Perwyn
  • BGF Ventures

Gousto Overview

About Gousto

Gousto is a London-headquartered meal kit delivery service providing recipe boxes with pre-portioned ingredients and chef-developed instructions for British households. Offering over 100 weekly options from Thai curries to Italian risottos using seasonal produce, it delivers chilled nationwide since 2012. The service accommodates dietary needs like vegetarian and gluten-free with flexible subscriptions.


Founded

2012

HQ

United KingdomLondon

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

Revenue

$415M (Feb 2022)

Valuation

$2.1B (Feb 2023)

Gousto Valuation

Gousto is currently valued at $2.1B, based on its undisclosed-stage round in February 2023.

The $60M round included Grosvenor Food & AgTech.

Gousto's valuation has grown 1.6x from $1.3B at its Series F in November 2020 to $2.1B in February 2023, across 4 priced rounds.

Gousto valuation by funding round

Revenue multiple
Gousto valuation by funding round
DateStageValuationRevenue Multiple
Feb 2023Undisclosed stage$2.1B-
Feb 2022Secondary$1.7B4.1x
Jan 2022Undisclosed stage$2.3B5.4x
Nov 2020Series F$1.3B12.0x

Gousto Revenue

Gousto's latest recorded revenue is $415M, as of its secondary sale in February 2022. At a $1.7B valuation, that implies a 4.1x revenue multiple.

Revenue grew from $110M in November 2020 to $415M in February 2022, while the revenue multiple moved from 12.0x to 4.1x.

Gousto revenue by funding round

Gousto revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Feb 2022$415M$1.7B4.1xSecondary
Jan 2022$415M$2.3B5.4xUndisclosed stage
Nov 2020$110M$1.3B12.0xSeries F

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Gousto Funding History

Gousto has raised a total of $372M across 13 funding rounds, plus 1 secondary share sale.

Gousto's first fundraising round was a $800K angel round in September 2013. The most recent completed round was a $60M undisclosed-stage round in February 2023.

Gousto funding rounds

Gousto funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2023Undisclosed stageGrosvenor Food & AgTech$60M$2.1BGousto is a UK-based meal-kit delivery service founded in 2012 by Timo Boldt, offering subscription recipe boxes with fresh ingredients and recipes aimed at healthy, affordable home cooking with minimal waste. The company achieved unicorn status in November 2020 at over $1bn valuation following investment from SoftBank Vision Fund 2 and has raised over $600m total from investors including Perwyn, BGF, MMC Ventures, Fidelity International, Railpen, and Grosvenor Food & AgTech. In early 2022, Gousto completed a $100m primary raise followed by a $230m secondary share sale at a $1.7bn valuation. Additionally, in March 2023, Gousto secured $24m in debt financing for similar purposes, with plans to expand workforce and distribution. Grosvenor Food & AgTech, an arm of the Duke of Westminster's portfolio, participated as an existing investor focused on food and agtech for sustainability and health; their 2023 annual review notes $34m in follow-on commitments to portfolio companies like Gousto amid a tough funding environment with valuation pressures. Gousto emphasizes ESG goals, partnering with food banks and achieving B Corp status to attract ethical consumers.
Feb 2022SecondarySoftBank Group (lead); Joe Wicks; Unilever Ventures; Fidelity International; Railpen; Perwyn; Grosvenor Food & AgTech; Canaccord Genuity$230M$1.7BGousto is a UK-based recipe box company founded in 2012 by Timo Boldt and James Carter, offering meal subscription services with premeasured ingredients, simple recipes, and an emphasis on healthier, sustainable eating. It leverages a 200+ strong tech team, AI for operations including automated fulfillment centers in Spalding and Warrington, and a recipe recommendation engine. In February 2022, Gousto completed a $230 million secondary share placing led by SoftBank Vision Fund 2, with participation from Fidelity International, Grosvenor Food & AgTech, and RPMI Railpen. This followed a January 2022 primary raise of $150 million, including $100 million primary equity from SoftBank Vision Fund 2 and $50 million debt from HSBC and Barclays, valuing the company at $1.7 billion—a significant uplift from its prior ~$1 billion valuation in November 2020. The secondary allowed some early-stage venture capital shareholders to reduce holdings, replaced by larger institutional investors better suited for Gousto's next growth stage. Prior fundraising included a Series F round of $30-31 million in November 2020 led by BGF Ventures and Perwyn to enhance AI and automation, bringing total funding to around $591.5-604.6 million by early 2022. Gousto, the UK's only profitable B Corp unicorn at the time, focused the capital on capacity, technology, and sustainable growth amid rising demand for convenience, health, and sustainability in grocery.
Jan 2022Undisclosed stageSoftBank Group (lead)$100M$2.3BGousto, a UK-based recipe box delivery company founded in 2012 by Timo Boldt, secured a Series G funding round in early 2022 led by SoftBank Vision Fund 2, raising $150 million in total new capital at a $1.7 billion USD post-money valuation, marking a significant uplift from its prior November 2020 round valued at around $1 billion. The primary equity portion consisted of $100 million from SoftBank Vision Fund 2, supplemented by $50 million in debt from HSBC and Barclays, aimed at investing in capacity, technology, and sustainable growth to meet accelerating demand in the convenience, health, and sustainability-driven grocery market. This primary raise was followed closely by a $230 million secondary market placement in February 2022, also led by SoftBank Vision Fund, which provided liquidity to existing shareholders including early-stage venture capitalists, while adding new investors like Fidelity International, Grosvenor Food & AgTech, and Railpen to the cap table. The transactions cemented Gousto's unicorn status as the only profitable B Corp unicorn in the UK at the time, with SoftBank's involvement signaling strong confidence in its trajectory toward potential IPO amid speculation. Gousto's growth was fueled by strong 2021 performance, with full-year results anticipated in May 2022, positioning it to capitalize on mega-trends in meal kits emphasizing healthier options. Other backers include Perwyn Private Equity, Canaccord Genuity, Unilever Ventures, and Joe Wicks. The funds were earmarked for AI, automation enhancements, supply chain optimization, and nationwide expansion in the competitive online grocery and meal-kit sector. Subsequent developments noted challenges with later debt financings and a reported current valuation drop to $300 million in some profiles, but the 2022 SoftBank-led events valued it at $1.7 billion.
Nov 2020Series FBGF Ventures (lead); Perwyn (lead)$33M$1.3BGousto is a UK-based meal kit delivery service providing subscription boxes with chef-prepared recipes and precise ingredients, emphasizing healthier eating options including collaborations like Joe Wicks' 'Lean in 15' range. Founded in 2012 by Timo Boldt, it has raised over £155m across multiple rounds from investors including Perwyn, BGF, MMC Ventures, Unilever Ventures, and Canaccord Genuity prior to this investment. In its Series F round closing on 30 October 2020, Gousto secured £25m (US$33m) in new equity from existing investors Perwyn and BGF Ventures to provide growth capital amid positive cashflow. Revenues grew sixfold from 2016 to 2019, reaching £83m (US$108m) for the full year 2019, with H1 2020 revenues already surpassing that total, reflecting strong pandemic-driven demand. Gousto reached profitability in Q4 2019 and anticipated significant profits for 2020, supported by operational gearing and topline growth. The investment bolstered Gousto's technology investments in AI for personalized recommendations, logistics optimization, and capacity expansion for next-day delivery. It held the #1 position in the UK recipe box market, competing in a fast-growing sector. Subsequent developments included further funding like a January 2022 round with SoftBank reportedly valuing it at $1.75bn (not this round), debt financing, and ongoing growth initiatives.
Apr 2020Series GPerwyn (lead); Joe Wicks; BGF Ventures; MMC Ventures$42M-Gousto is a UK-based recipe box and meal kit delivery service offering over 50 weekly recipes with customizable options, next-day delivery, and an average price of £2.98 per meal per person. The company operates automated packing processes and sources produce directly, achieving gross margins over 50% by 2019 through production efficiencies and reduced food waste. In April 2020, amid surging demand from COVID-19 lockdowns, Gousto raised £33 million (approximately $41 million) in a funding round led by Perwyn, with participation from BGF Ventures, MMC Ventures, and Joe Wicks, bringing total funding to over £130 million ($162 million). The round was planned pre-pandemic but accelerated hiring plans from 550 to 700 employees by 2022 and capacity expansion to deliver 4 million meals monthly to 380,000 households. Gousto reported $108 million in revenue for 2019, with a £12.5 million ($16.8 million) loss but 67% year-on-year revenue growth and Q1 2020 revenue up 70% year-on-year. The company exceeded its full 2019 revenue in the first half of 2020 alone, with orders doubling month-on-month during lockdowns and a 28% rise in family box demand. CEO Timo Boldt highlighted 'very profitable growth,' rare for unicorns, expecting first profit by late 2020 through operational efficiencies. Gousto paused new customer sign-ups to meet existing demand, positioning as a UK market leader delivering over 1 million weekly meals. The funding supported AI enhancements for personalized recommendations, logistics optimization, and rapid scaling, with the recipe box sector projected to grow significantly post-pandemic.
Jul 2019Series FPerwyn (lead); Unilever Ventures; Hargreave Hale; BGF Ventures; MMC Ventures$37M-Gousto is the UK's leading recipe box company, providing a subscription service that delivers meal kits with chef-prepared recipes and precise ingredients, emphasizing healthier eating and variety. Founded in 2012 by Timo Boldt, it has raised over £100 million in total funding by July 2019 across multiple rounds from investors including BGF Ventures, MMC Ventures, Canaccord Genuity, Unilever Ventures, and Joe Wicks. The specific round in July 2019 raised £30 million (approximately $36-38 million USD) led by Perwyn, with participation from existing investors, to accelerate technology evolution, AI-driven automation, customer experience improvements, and expansion in the UK recipe box market projected to exceed £1.5 billion by 2022. This funding marked Perwyn's initial major investment in Gousto, supporting scaling of operations, automated production, and data-science capabilities amid rapid consumer shifts toward convenient home cooking. By 2019, Gousto had achieved sixfold revenue growth from 2016 to 2019, reaching £83 million for the full year, with first-half 2020 revenues already surpassing that figure at over £83 million. The company reached profitability in Q4 2019, ahead of many tech peers, due to topline growth and operational efficiencies. Post-2019, Gousto continued raising capital, including additional rounds from Perwyn and BGF Ventures in 2020 totaling around £55 million at valuations exceeding $1 billion, achieving unicorn status. Investments focused on new fulfillment centers and AI enhancements amid pandemic-driven demand. Later developments included £50 million equity plus £20 million debt in recent rounds, with Perwyn leading multiple expansions, positioning Gousto as the UK market leader with over 55 recipes and strong competitive traction against peers in the meal kit sector.
Jan 2019Series EJoe Wicks; Unilever Ventures; Hargreave Hale; ACF Investors; Business Growth Fund; MMC Ventures$24M-Gousto is a UK-based meal-kit delivery service founded in 2012, providing recipe boxes with pre-portioned ingredients and recipe cards for home cooking. For the full year 2019, Gousto reported $108 million in revenue, equivalent to approximately £84 million, marking a 67% year-on-year increase; the company also achieved gross margins over 50% due to efficiencies in production and reduced food waste. Financials for 2019 showed a slim loss of £12.5 million ($16.8 million). In the first half of 2020, revenue exceeded the full 2019 figure amid pandemic-driven demand surges, with orders doubling month-on-month. Gousto continued raising capital post-2019, including a Series F round of $36 million in July 2019 led by Perwyn to improve product offerings, and £33 million in April 2020 from Perwyn, BGF Ventures, MMC Ventures, and Joe Wicks to expand operations amid COVID-19 growth. The company positioned itself for profitable growth, expecting its first profit in late 2020 while reaching unicorn status at a $1 billion valuation around that time, though specifics tie to later developments.
Mar 2018Series DHargreave Hale (lead); ACF Investors; Business Growth Fund; MMC Ventures$40M--
Nov 2016Series CUnilever Ventures; ACF Investors; Business Growth Fund; Barclays; MMC Ventures$13M--
Dec 2015Series BUnilever Ventures; ACF Investors; Business Growth Fund; MMC Ventures$13M-Gousto, a UK recipe box delivery company founded in 2012, raised a £9 million funding round on December 7, 2015, bringing total funding to £20 million. Investors included BGF Ventures with £3 million, alongside existing backers MMC Ventures, Unilever Ventures, and the Angel CoFund, with TV presenter Andi Peters also participating. The round supported team expansion in chefs and nutritionists, broader sales and marketing, and more meal and delivery options. In late 2015, Gousto delivered over 30,000 meals monthly, up nearly sixfold year-over-year, and had launched a free iOS app for ordering. The company achieved double Tesco’s inventory turnover, four times Ocado’s revenues per SKU, and double average supermarket gross margins through zero waste and direct farmer sourcing. The UK online food delivery market exceeded £8 billion, with the recipe box segment growing rapidly.
Sep 2014Series AUnilever Ventures (lead); MMC Ventures$8M-Gousto is a UK-based meal-kit delivery service founded in 2012 by Timo Schmidt (later Timo Boldt) and James Carter that offers recipe boxes with fresh ingredients and detailed instructions delivered directly to consumers' homes. The company differentiates itself by allowing customers to choose from ten recipes per week rather than receiving pre-selected meals, and emphasizes organic ingredients and competitive pricing. In September 2014, Gousto closed a Series A funding round of £5 million ($8.3 million) led by Unilever Ventures, with participation from existing investor MMC Ventures, bringing total funding raised to approximately £7 million at that time. The company positioned itself in the context of the £200 billion UK grocery market, targeting the shift from offline to online shopping and the growing consumer focus on healthy eating. At the time of the Series A, Gousto was priced at £4-5 per meal including delivery and had already received interest from subsequent investors including Angel CoFund and BGF Ventures in following funding rounds.
May 2014AngelAndreas Raffel; Ian West$300K--
Dec 2013SeedMMC Ventures (lead); ACF Investors$2M--
Sep 2013AngelACF Investors$800K--

Who has invested in Gousto?

16 investors have backed Gousto across its funding rounds, including MMC Ventures, ACF Investors, Unilever Ventures, Business Growth Fund, Perwyn and BGF Ventures.

Lead investors include SoftBank Group, BGF Ventures, Perwyn, Hargreave Hale, Unilever Ventures and 1 other investor.


Gousto Investors

Investors in Gousto by funding rounds participated
InvestorHQRoundsRoleFirst check
MMC VenturesUnited KingdomLondon8LeadDec 2013
Unilever VenturesUnited KingdomLondon6LeadSep 2014
ACF InvestorsUnited KingdomSheffield6ParticipantSep 2013
Business Growth FundUnited KingdomLondon4ParticipantDec 2015
PerwynUnited KingdomLondon4LeadJul 2019
Joe WicksUnited KingdomUnited Kingdom3ParticipantJan 2019
Hargreave HaleUnited KingdomBlackpool3LeadMar 2018
BGF VenturesUnited KingdomAberdeen3LeadJul 2019
SoftBank GroupJapanTokyo2LeadJan 2022
Grosvenor Food & AgTechUnited KingdomLondon2ParticipantFeb 2022
Andreas RaffelUnited KingdomLondon1ParticipantMay 2014
Fidelity InternationalUnited KingdomLondon1ParticipantFeb 2022
RailpenUnited KingdomLondon1ParticipantFeb 2022

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Gousto Competitors

Gousto competitors include listed companies like ITO EN and Mitchells & Butlers, and private ones like Naixuecha, Rebel Foods, Kopi Kenangan and Country Delight.

Public and private companies comparable to Gousto
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
NaixuechaChinaShenzhenPrivate$725M-$1.8B-
Rebel FoodsIndiaMumbaiPrivate$173M-$1.4B8.1x
Kopi KenanganIndonesiaJakartaPrivate$184M-$1B5.4x
Country DelightIndiaGurgaonPrivate$148M-$820M5.5x
ITO ENJapanJapanPublicly listed$3.2B$104M$2.1B0.7x
Mitchells & ButlersUnited KingdomUnited KingdomPublicly listed$3.6B$623M$2.2B1.0x

Gousto Public Comps

Gousto is still privately-owned, but its public comps include ITO EN, Mitchells & Butlers, Saizeriya, Savola Group, Kent Gıda, Midera Food Processing, Alicorp, CR Beverage, Alsea and CJ CheilJedang.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
ITO EN$3.2B$104M0.7x0.7x21.1x11.2x
Mitchells & Butlers$3.6B$623M1.0x1.0x6.0x5.9x
Saizeriya$1.7B$204M1.1x0.9x8.7x7.7x
Savola Group$7B$671M0.5x0.5x5.4x5.7x
Kent Gıda$12M$355K181.0x-6122.4x-
Midera Food Processing$853M$89M2.6x2.5x25.3x14.0x
Alicorp$3.5B$339M0.9x0.9x9.6x6.2x
CR Beverage$1.6B$263M0.8x0.9x5.2x5.3x

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Common questions about Gousto

When was Gousto founded?Gousto was founded in 2012.
Where is Gousto headquartered?Gousto is headquartered in London, United Kingdom.
Is Gousto publicly listed?No, Gousto is a private, VC-backed company.
What is Gousto's valuation?Gousto was last valued at $2.1B in its undisclosed-stage round in February 2023.
How much funding has Gousto raised?Gousto has raised $372M across 13 funding rounds.
What was Gousto's last funding round?Gousto's last funding round was a $60M undisclosed-stage round in February 2023.
Who are Gousto's investors?Gousto's investors include MMC Ventures, Unilever Ventures, ACF Investors, Business Growth Fund, Perwyn, Joe Wicks, Hargreave Hale, BGF Ventures, SoftBank Group, Grosvenor Food & AgTech and 6 others.
What is Gousto's revenue?Gousto's latest recorded revenue is $415M (February 2022).
What is Gousto's revenue multiple?Gousto's latest valuation implies a 4.1x revenue multiple ($1.7B valuation on $415M of revenue).
Which companies are comparable to Gousto?Companies comparable to Gousto include Naixuecha, Rebel Foods, Kopi Kenangan, Country Delight, ITO EN and Mitchells & Butlers.

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