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

Hungryroot Overview

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

United StatesNew York City, NY

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

Hungryroot valuation by funding round
DateStageValuationRevenue Multiple
Jun 2021Series C$750M4.3x

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

Hungryroot revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jun 2021$175M$750M4.3xSeries 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

Hungryroot funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2021Series CL Catterton (lead)$40M$750MHungryroot 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 2018Series BLightspeed 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 2017Series ALightspeed 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 2016Series ALightspeed Venture Partners (lead); Lerer Hippeau; KarpReilly; Junction Venture Partners; Great Oaks Venture Capital; Crosslink Capital$4M--
May 2015SeedLerer 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

Investors in Hungryroot by funding rounds participated
InvestorHQRoundsRoleFirst check
Crosslink CapitalUnited StatesSan Francisco, CA4ParticipantMay 2015
Lerer HippeauUnited StatesNew York City, NY3ParticipantMay 2015
KarpReillyUnited StatesGreenwich, CT3ParticipantMay 2015
Lightspeed Venture PartnersUnited StatesSan Francisco, CA3LeadMar 2016
Great Oaks Venture CapitalUnited StatesNew York City, NY2ParticipantMar 2016
Brooklyn Bridge VenturesUnited StatesNew York City, NY1ParticipantMay 2015
Junction Venture PartnersUnited StatesNew York City, NY1ParticipantMar 2016
Mesa VenturesUnited StatesNew York City, NY1ParticipantMay 2015
Quotidian VenturesUnited StatesNew York City, NY1ParticipantMay 2015
jab BrandsUnited StatesNew York City, NY1ParticipantMay 2015
L CattertonUnited StatesGreenwich, CT1LeadJun 2021

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Hungryroot Competitors

Hungryroot competitors include listed companies like ODDITY Tech and PKSHA Technology, and private ones like Shogun, Bobbie, AUI (Augmented Intelligence) and PolyAI.

Public and private companies comparable to Hungryroot
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ShogunUnited StatesLos Angeles, CAPrivate--$575M-
BobbieUnited StatesSan Francisco, CAPrivate$165M-$570M3.5x
AUI (Augmented Intelligence)United StatesNew York City, NYPrivate--$750M-
PolyAIUnited KingdomLondonPrivate--$750M-
ODDITY TechUnited StatesUnited StatesPublicly listed$810M$131M$889M1.8x
PKSHA TechnologyJapanJapanPublicly listed$140M$47M$627M2.4x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
almeera$799M$83M1.2x1.1x11.3x11.5x
Agthia Group$1.3B$126M0.8x0.8x8.8x7.2x
Beijing Deep Glint Tech$23M($29M)25.1x8.7x(19.8x)(80.2x)
Westrock Coffee$1.2B$14M1.3x1.3x107.9x17.7x
Carozzi$1.7B$217M0.9x-6.8x-
First Milling$306M$110M3.5x3.3x9.7x9.5x
Juhayna Food Industries$574M$79M1.6x1.4x11.4x9.5x
WeBuyCars$1.6B$90M0.5x0.5x9.7x8.6x

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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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