TemperPack Valuation, Funding & Investors
TemperPack is valued at $108M as of January 2019.
Last TemperPack valuation
$108M
Series B · Jan 2019
Last TemperPack funding round
$140M
Series D · Mar 2022
Cumulative funding TemperPack raised
$209M
across 6 funding rounds
Key investors in TemperPack
SJF Ventures
Tao Capital Partners
Harbert Growth Partners
Revolution Growth
Arborview Capital
Revolution
About TemperPack
TemperPack is an Atlanta-headquartered sustainable packaging manufacturer founded in 2015. The company produces ClimaCell insulated liners from renewable paper for shipping perishables in food and life sciences sectors. TemperPack's curbside-recyclable solutions replace foam coolers for clients like HelloFresh and serve North American e-commerce shippers.
Founded
2015
HQ
Richmond, VAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$108M (Jan 2019)
TemperPack Valuation
TemperPack is currently valued at $108M, based on its Series B in January 2019.
The $23M round was led by Revolution, with participation from SJF Ventures, Tao Capital Partners, Revolution Growth, Arborview Capital, Harbert Growth Partners and 1 other investor.
TemperPack valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2019 | Series B | $108M |
TemperPack Funding History
TemperPack has raised a total of $209M across 6 funding rounds.
TemperPack's first fundraising round was a $900K seed round in April 2015. The most recent completed round was a $140M Series D in March 2022.
TemperPack funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2022 | Series D | Goldman Sachs Asset Management (lead); SJF Ventures; Tao Capital Partners; Revolution Growth; Arborview Capital; Harbert Growth Partners; Grosvenor Food & AgTech | $140M | - | TemperPack Technologies is a leading manufacturer of sustainable thermal insulation for cold chain packaging, headquartered in Richmond, Virginia. The company produces ClimaCell, a patented non-toxic, curbside-recyclable alternative to expanded polystyrene (EPS) for shipping temperature-sensitive products including perishable foods, pharmaceuticals, and life science materials. ClimaCell had become the leading sustainable alternative to EPS coolers in the market. On March 22, 2022, TemperPack closed $140 million in equity financing led by Goldman Sachs Asset Management's Sustainable Investing business. The round included participation from existing investors Grosvenor Food & AgTech, Harbert Growth Partners, Tao Capital Partners, Revolution Growth, SJF Ventures, and Arborview Capital. This funding round brought TemperPack's total cumulative funding to over $78 million at announcement. J.P. Morgan Securities LLC served as the exclusive placement agent. TemperPack had experienced rapid growth driven by increased demand for sustainable packaging solutions, accelerated by COVID-era home deliveries of meal kits, produce, and prepared meals. The company more than doubled its workforce since the end of 2018 and brought on major new customers including Illumina and New England Biolabs while existing customers increased orders. At the time of the March 2022 announcement, TemperPack had 200 employees and operated manufacturing facilities in Richmond, Virginia and Las Vegas, Nevada. The $140 million proceeds were directed toward expanding capacity for protective materials technologies, growing geographic footprint, and extending customer reach. The funding reflected Goldman Sachs' strategic commitment to partnering with businesses driving sustainability, with the objective of accelerating development of technologies that disrupt single-use plastics in cold chain logistics. |
| Aug 2020 | Series C | Grosvenor Food & AgTech (lead); SJF Ventures; Tao Capital Partners; Revolution Growth; Arborview Capital; Revolution; Harbert Growth Partners; Greenhouse Capital Partners; Third Prime | $31M | - | TemperPack Technologies is a Richmond, Virginia-based sustainable packaging manufacturer founded in 2015 by CEO Brian Powers, Chief Product Officer James McGoff, and Chief Technology Officer Charles Vincent. The company specializes in designing and manufacturing sustainable thermal insulation for home deliveries of perishable foods and temperature-sensitive medicines, with their flagship product being ClimaCell, a recyclable and compostable alternative to polystyrene (Styrofoam) foam. TemperPack operates ISTA-certified production facilities in Richmond, Virginia and Las Vegas, Nevada, and serves customers including HelloFresh, Blue Apron, Splendid Spoon, Misfits Market, Imperfect Foods, and healthcare clients such as UPS Healthcare, Illumina, and New England Biolabs. In August 2020, TemperPack closed a Series C financing round of $31.3 million led by Grosvenor Food & AgTech, the UK-based food and agricultural investment arm of the Grosvenor Estate. The round also included follow-on investments from existing shareholders Revolution Growth, Harbert Growth Partners, SJF Ventures, Arborview Capital, Tao Capital, Third Prime Capital, and Greenhouse Capital, bringing total company funding to over $78 million including the $22.5 million Series B from January 2019. At the time of the Series C announcement, TemperPack employed 200 people and was expanding production capacity to meet surging demand driven by pandemic-accelerated growth in e-commerce home deliveries and increased consumer preference for sustainable packaging alternatives. The company used the Series C proceeds to purchase additional manufacturing equipment and planned European expansion, with the goal of doubling production of its ClimaCell product. Since 2018, TemperPack's customers had avoided creating over 18 million kilograms of carbon emissions and eliminated the need for over 220,000 cubic meters of plastic waste by choosing ClimaCell over expanded polystyrene. |
| Jan 2019 | Series B | Revolution (lead); SJF Ventures; Tao Capital Partners; Revolution Growth; Arborview Capital; Harbert Growth Partners; Greenhouse Capital Partners | $23M | $108M | TemperPack is a Richmond, Virginia-based company founded in 2015 by James McGoff, Brian Powers, and Charles Vincent, specializing in sustainable thermal packaging solutions. It engineers, manufactures, and distributes curbside recyclable products using proprietary bio-based materials like ClimaCell, a patent-pending alternative to Styrofoam and plastic foams, targeting e-commerce food delivery, life science cold chain logistics, and shipment of biologic drugs. The company operates factories in Virginia and Nevada, with designs tested in its Proving Ground laboratory to meet client specifications. On January 10, 2019, TemperPack raised $22.5 million in a Series B financing round led by Revolution Growth, with participation from new investors Harbert Growth Partners, Arborview Capital, and Tao Capital Partners, plus existing investor SJF Ventures. Todd Klein from Revolution Growth and Brian Carney from Harbert Growth Partners joined the board. The funds were intended to expand business operations, engineer new products, and respond to increased demand driven by consumer pressure for environmentally friendly packaging. At the time, TemperPack estimated it had avoided 15 million pounds of carbon emissions and diverted 10 million pounds of plastic foam from landfills, with ClimaCell manufacturing reducing carbon emissions by 97% compared to plastic foam. This Series B brought total funding to around $37 million prior to a subsequent $13 million unspecified round later in 2019. The company continued rapid growth, raising a $31.3 million Series C in 2020 led by Wheatsheaf Group with follow-on from Revolution Growth, SJF Ventures, and others, boosting total investments over $78 million. Later rounds included debt financing and a $140 million corporate investment in 2022 led by Goldman Sachs Asset Management to expand capacity and geographic footprint in sustainable protective materials. |
| Jul 2018 | Seed | Closed Loop Partners (lead) | $5M | - | - |
| Jul 2017 | Series A | SJF Ventures (lead); Haas Portman; Dolik Ventures; Interplay; Third Prime; Bob Beckler | $10M | - | TemperPack, a Richmond, Virginia-based company, develops sustainable insulated packaging solutions using plant fiber-based ClimaCell as an alternative to plastic foam for shipping temperature-sensitive goods like food and pharmaceuticals. The company raised $10 million in its Series A round on July 14, 2017, led by SJF Ventures with participation from Interplay Ventures, Third Prime Capital, Dolik Ventures, and Robert Beckler, who joined as Executive Chairman. Funds supported operational expansion and commercialization of new products. In 2016, TemperPack achieved over 500% sales growth ahead of the round. By mid-2017, it shipped millions of insulation products monthly to over 40 customers, recycled more than 5 million pounds of plant fiber since 2015, and was on track to divert over 10 million pounds of plastic foam from landfills. The company employed more than 200 associates and planned to add 150 jobs in Virginia and Nevada by 2018. |
| Apr 2015 | Seed | - | $900K | - | - |
Who has invested in TemperPack?
15 investors have backed TemperPack across its funding rounds, including SJF Ventures, Tao Capital Partners, Harbert Growth Partners, Revolution Growth, Arborview Capital and Revolution.
Lead investors include Goldman Sachs Asset Management, Grosvenor Food & AgTech, Revolution, Closed Loop Partners and SJF Ventures.
TemperPack Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Durham, NC | 4 | Lead | Jul 2017 | |
| San Francisco, CA | 3 | Participant | Jan 2019 | |
| United States | 3 | Participant | Jan 2019 | |
| Washington, DC | 3 | Participant | Jan 2019 | |
| United States | 3 | Participant | Jan 2019 | |
| Washington, DC | 2 | Lead | Jan 2019 | |
 London | 2 | Lead | Aug 2020 | |
| San Francisco, CA | 2 | Participant | Jan 2019 | |
| New York City, NY | 2 | Participant | Jul 2017 | |
| Los Angeles, CA | 1 | Participant | Jul 2017 | |
| New York City, NY | 1 | Participant | Jul 2017 | |
| United States | 1 | Participant | Jul 2017 | |
| New York City, NY | 1 | Lead | Jul 2018 | |
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Start Free TrialAcquisitions by TemperPack
TemperPack has acquired 1 company to date.
Last acquisition by TemperPack was on August 2nd 2022. TemperPack acquired Green Cell Foam for undisclosed valuation.
Latest Acquisitions by TemperPack
| Description | Green Cell Foam is a Santa Ana-headquartered manufacturer of biodegradable foam packaging alternatives. The company supplies molded pulp and mycelium-based protective solutions to life sciences firms, wineries, and food producers in North America. Its products replace polystyrene in shipping containers for pharmaceuticals, bottles, and perishables, with facilities in California serving clients like Thermo Fisher Scientific. |
| HQ Country | |
| HQ City | Lansing, MI |
| Deal Date | 2 Aug 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all TemperPack acquisitions and their M&A valuation multiples. Start Free Trial | |
TemperPack Competitors
TemperPack competitors include listed companies like Hadron Energy and Tigo Energy, and private ones like Toraphene, ULUU, BioElements and Shellworks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| London | Private | $1M | - | $111M | 110.5x | |
 Perth | Private | - | - | $71M | - | |
 Santiago | Private | $6M | - | $200M | 33.3x | |
| United Kingdom | Private | - | - | $58M | - | |
| United States | Publicly listed | - | ($72M) | $119M | - | |
| United States | Publicly listed | $104M | $10M | $75M | 0.6x |
TemperPack Public Comps
TemperPack is still privately-owned, but its public comps include Flexopack, IIRM Holdings India, Hadron Energy, Infragreen Group, Otovo, Gascogne, Ringmetall, Altea Green Power, Umbrella Global Energy and Midsummer.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $189M | $28M | 0.7x | - | 4.7x | - | |||
| $26M | $6M | 3.9x | - | 16.8x | - | |||
| - | ($72M) | - | - | (1.3x) | - | |||
| $84M | $17M | 1.1x | 1.2x | 5.2x | 5.9x | |||
| $60M | ($27M) | 1.5x | 1.6x | (3.2x) | (4.0x) | |||
| $461M | $19M | 0.7x | - | 18.0x | - | |||
| $201M | $28M | 0.9x | 0.8x | 6.8x | 6.5x | |||
| $25M | $15M | 6.1x | 5.8x | 10.4x | 10.4x | |||
This data is available for Pro users. Sign up to see all TemperPack competitors and their valuation data. Start Free Trial | ||||||||
Common questions about TemperPack
| When was TemperPack founded? | TemperPack was founded in 2015. |
| Where is TemperPack headquartered? | TemperPack is headquartered in Richmond, VA, United States. |
| Is TemperPack publicly listed? | No, TemperPack is a private, VC-backed company. |
| What is TemperPack's valuation? | TemperPack was last valued at $108M in its Series B in January 2019. |
| How much funding has TemperPack raised? | TemperPack has raised $209M across 6 funding rounds. |
| What was TemperPack's last funding round? | TemperPack's last funding round was a $140M Series D in March 2022, led by Goldman Sachs Asset Management. |
| Who are TemperPack's investors? | TemperPack's investors include SJF Ventures, Tao Capital Partners, Revolution Growth, Arborview Capital, Harbert Growth Partners, Revolution, Grosvenor Food & AgTech, Greenhouse Capital Partners, Third Prime, Haas Portman and 5 others. |
| Which companies are comparable to TemperPack? | Companies comparable to TemperPack include Toraphene, ULUU, BioElements, Shellworks, Hadron Energy and Tigo Energy. |
| How many companies has TemperPack acquired? | TemperPack has acquired 1 company, including Green Cell Foam. |
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