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- Hungryroot
Hungryroot Revenue, Valuation, Funding & Investors
Hungryroot is valued at $750M as of June 2021, a 4.3x multiple on its last reported $175M revenue.
Last Hungryroot valuation
$750M
Series C · Jun 2021
Last Hungryroot funding round
$40M
Series C · Jun 2021
Hungryroot revenue
$175M
Series C · Jun 2021
Key investors in Hungryroot
Crosslink Capital
Lightspeed Venture Partners
Lerer Hippeau
KarpReilly
Great Oaks Venture Capital
L Catterton
About Hungryroot
Hungryroot is a Chicago-based personalized grocery delivery service using AI to recommend groceries, recipes, and meal plans based on user health goals. Launched in 2015, the platform offers branded and proprietary products like Black Bean Brownie Batter, available nationwide in the US. Hungryroot emphasizes sustainability and convenience with predictive technology matching individual dietary needs.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales, Subscription
Revenue
$175M (Jun 2021)
Valuation
$750M (Jun 2021)
Hungryroot Valuation
Hungryroot is currently valued at $750M, based on its Series C in June 2021.
The $40M round was led by L Catterton.
Hungryroot valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2021 | Series C | $750M | 4.3x |
Hungryroot Revenue
Hungryroot's latest recorded revenue is $175M, as of its Series C in June 2021. At a $750M valuation, that implies a 4.3x revenue multiple.
Hungryroot revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2021 | $175M | $750M | 4.3x | Series C |
* 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.
Hungryroot Funding History
Hungryroot has raised a total of $75M across 5 funding rounds.
Hungryroot's first fundraising round was a $2M seed round in May 2015. The most recent completed round was a $40M Series C in June 2021.
Hungryroot funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2021 | Series C | L Catterton (lead) | $40M | $750M | Hungryroot is an AI-powered personalized grocery delivery service founded in 2015 that uses machine learning and predictive modeling to build customized shopping carts for customers based on their preferences and needs. The platform differentiates itself through a questionnaire-driven approach to personalization, combined with recipe suggestions, meal planning, and nutritional support, operating with a weekly subscription model similar to meal kit services. In June 2021, Hungryroot raised $40 million in Series C funding led by L Catterton's Growth Fund, achieving a post-money valuation of $750 million. The company had raised $35 million prior to this round and announced total fundraising of $75 million, positioning itself as one of the most capital-efficient businesses in the grocery industry with an already profitable operating model since early 2020. According to the company's projections, Hungryroot was set to generate $175 million in revenue for 2021 and $300 million in 2022, demonstrating strong momentum in the pandemic-era surge of online grocery adoption. The funding would be deployed to expand grocery offerings from approximately 300 items weekly to 3,000 items over three years, invest in automation and algorithmic improvements, hire additional staff, and scale marketing efforts. A key differentiator cited by L Catterton was Hungryroot's industry-leading customer retention, with average customers spending 64% more on the platform in their first five months compared to other leading grocery and food delivery services. |
| Mar 2018 | Series B | Lightspeed Venture Partners (lead); Crosslink Capital | $22M | - | Hungryroot is a New York City-based e-commerce platform in the food and beverages sector. The company raised a Series B round of $22.0M on March 23, 2018, led by Lightspeed Venture Partners. |
| Jan 2017 | Series A | Lightspeed Venture Partners (lead); Lerer Hippeau; KarpReilly; Great Oaks Venture Capital; Crosslink Capital | $8M | - | Hungryroot is an AI-powered grocery delivery service offering proprietary recipes and fresh ingredients for quick meal preparation, founded in 2015 by Ben McKean, Gregory Struck, and Franklin Becker. The company relaunched operations in September 2017 with 50 products across 20 production lines in Queens, employing over 70 people by 2016. On January 27, 2017, Hungryroot raised $7.7 million in a Series A round led by Lightspeed Venture Partners, with participation from Lerer Hippeau and Crosslink Capital. This followed a $2.2 million seed round in 2016 led by Lerer Hippeau and Crosslink Capital, and preceded a $22 million Series B in March 2018 led by Lightspeed Venture Partners, Crosslink Capital, Lerer Hippeau, and BV Investment Partners. Total funding across rounds reached $75.4 million, with later investments including a $40 million Series C in June 2021 from L Catterton. |
| Mar 2016 | Series A | Lightspeed Venture Partners (lead); Lerer Hippeau; KarpReilly; Junction Venture Partners; Great Oaks Venture Capital; Crosslink Capital | $4M | - | - |
| May 2015 | Seed | Lerer Hippeau; Brooklyn Bridge Ventures; KarpReilly; Mesa Ventures; Quotidian Ventures; jab Brands; Zelkova Ventures; Crosslink Capital; John Rigos | $2M | - | - |
Who has invested in Hungryroot?
13 investors have backed Hungryroot across its funding rounds, including Crosslink Capital, Lightspeed Venture Partners, Lerer Hippeau, KarpReilly, Great Oaks Venture Capital and L Catterton.
Lead investors include L Catterton and Lightspeed Venture Partners.
Hungryroot Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | May 2015 | ||
| 3 | Participant | May 2015 | ||
| 3 | Participant | May 2015 | ||
| 3 | Lead | Mar 2016 | ||
| 2 | Participant | Mar 2016 | ||
| 1 | Participant | May 2015 | ||
| 1 | Participant | Mar 2016 | ||
| 1 | Participant | May 2015 | ||
| 1 | Participant | May 2015 | ||
| 1 | Participant | May 2015 | ||
| 1 | Lead | Jun 2021 | ||
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Start Free TrialHungryroot Competitors
Hungryroot competitors include listed companies like ODDITY Tech and PKSHA Technology, and private ones like Shogun, Bobbie, AUI (Augmented Intelligence) and PolyAI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $575M | - | ||
| Private | $165M | - | $570M | 3.5x | ||
| Private | - | - | $750M | - | ||
| Private | - | - | $750M | - | ||
| Publicly listed | $810M | $131M | $889M | 1.8x | ||
| Publicly listed | $140M | $47M | $627M | 2.4x |
Hungryroot Public Comps
Hungryroot is still privately-owned, but its public comps include almeera, Agthia Group, Beijing Deep Glint Tech, Westrock Coffee, Carozzi, First Milling, Juhayna Food Industries, WeBuyCars, Horizon Quantum and Suedwestdeutsche.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $799M | $83M | 1.2x | 1.1x | 11.3x | 11.5x | |||
| $1.3B | $126M | 0.8x | 0.8x | 8.8x | 7.2x | |||
| $23M | ($29M) | 25.1x | 8.7x | (19.8x) | (80.2x) | |||
| $1.2B | $14M | 1.3x | 1.3x | 107.9x | 17.7x | |||
| $1.7B | $217M | 0.9x | - | 6.8x | - | |||
| $306M | $110M | 3.5x | 3.3x | 9.7x | 9.5x | |||
| $574M | $79M | 1.6x | 1.4x | 11.4x | 9.5x | |||
| $1.6B | $90M | 0.5x | 0.5x | 9.7x | 8.6x | |||
This data is available for Pro users. Sign up to see all Hungryroot competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Hungryroot
| When was Hungryroot founded? | Hungryroot was founded in 2015. |
| Where is Hungryroot headquartered? | Hungryroot is headquartered in New York City, NY, United States. |
| Is Hungryroot publicly listed? | No, Hungryroot is a private, VC-backed company. |
| What is Hungryroot's valuation? | Hungryroot was last valued at $750M in its Series C in June 2021. |
| How much funding has Hungryroot raised? | Hungryroot has raised $75M across 5 funding rounds. |
| What was Hungryroot's last funding round? | Hungryroot's last funding round was a $40M Series C in June 2021, led by L Catterton. |
| Who are Hungryroot's investors? | Hungryroot's investors include Crosslink Capital, Lerer Hippeau, KarpReilly, Lightspeed Venture Partners, Great Oaks Venture Capital, Brooklyn Bridge Ventures, Junction Venture Partners, Mesa Ventures, Quotidian Ventures, jab Brands and 3 others. |
| What is Hungryroot's revenue? | Hungryroot's latest recorded revenue is $175M (June 2021). |
| What is Hungryroot's revenue multiple? | Hungryroot's latest valuation implies a 4.3x revenue multiple ($750M valuation on $175M of revenue). |
| Which companies are comparable to Hungryroot? | Companies comparable to Hungryroot include Shogun, Bobbie, AUI (Augmented Intelligence), PolyAI, ODDITY Tech and PKSHA Technology. |
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