Seattle-based snack company SkinnyDipped, known for its lightly dipped nuts, has raised $12 million in Series A funding. The funding round, led by hospitality entrepreneur David Grutman, saw the participation of numerous well-known investors, including Amy Schumer, Mark Wahlberg, Becky G, Post Malone, and Tan France, among others. The investment will allow SkinnyDipped to expand its retail presence, including new partnerships with retailers such as Costco and Publix. It will also support the company’s philanthropic and marketing efforts, as well as its ongoing innovation in new product categories.
Key Takeaway
Snack company SkinnyDipped secures
2 million in Series A funding from a star-studded group of investors, including Amy Schumer and Mark Wahlberg. The funding will enable the company to expand its retail presence and continue innovating in new product categories.
Founders Val and Breezy Griffith Revolutionize Snacking
SkinnyDipped was founded by mother-and-daughter duo Val and Breezy Griffith with the vision of providing healthier snack options that are low in sugar and made with non-GMO ingredients. The company originally focused on almond flavors, such as Lemon Bliss, and operated as a direct-to-consumer brand. However, it has since expanded its product line to include cashews, peanuts, and cups and bites. Today, SkinnyDipped is available in over 25,000 retail stores nationwide, including major retailers like Target, Walmart, and Kroger.
Success in an Uncertain Snack Industry
Despite the current uncertainties in the snack industry, SkinnyDipped has managed to attract a diverse customer base and expand its distribution channels. CEO Breezy Griffith attributes this success to the company’s ability to innovate and create products that have lasting appeal, rather than relying on short-term trends. She also points out that investors are increasingly placing importance on both growth and profitability, a balance that SkinnyDipped aims to achieve. With the recently secured funding, the company is poised to capitalize on its strong foundation and continue its rapid growth trajectory.
Expanding Retail Presence and Future Plans
The funding will enable SkinnyDipped to enter new retail partnerships, including with retailers like Costco and Publix. The company also plans to invest in marketing initiatives that have shown promising returns on investment. Additionally, SkinnyDipped has been working on improving its manufacturing processes and cost efficiency over the past 18 months, which has contributed to its double-digit growth. With forecasts to double its business again in the next 12 months, the company is confident in its path towards profitability.
Overall, SkinnyDipped’s successful fundraising round and star-studded investor lineup demonstrate its strong position in the snack industry. With its continued focus on providing healthier snack options without compromising on taste, the company is well-poised for further growth in the coming months.
