Industry News: GOOD PLANeT Closes $12MM Series A Funding Round: Leader In Plant-Based Category Eyes Significant Growth for the Future

May 27, 2020
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Industry News: GOOD PLANeT Closes $12MM Series A Funding Round: Leader In Plant-Based Category Eyes Significant Growth for the Future

 

Leader In Plant-Based Category Eyes Significant Growth for the Future

May 26, 2020 (SEATTLE, WA) - GOOD PLANeT Foods, an innovative company known for its delicious and meltable plant-based cheeses, announced today it has raised $12MM in a Series A funding round. The funding round was led by Cleveland Avenue, and joined by GreatPoint Ventures, Tasseo Consumer, Stray Dog Capital and Lever VC.  The most recent round of funding will support GOOD PLANeT Foods’ continued growth within the industry.

 

From its inception, GOOD PLANeT Foods has launched a new brand of tasty cheeses and has helped to bring more awareness and accessibility to the plant-based foods category. The brand has successfully expanded its selection of products that are free of common allergens and address many of today’s most prominent dietary restrictions. These non-GMO, vegan, kosher and halal certified products are now available at major retailers nationwide, such as Walmart, Costco, Wegmans, ShopRite, Safeway, Price Chopper, Whole Foods and Bristol Farms.

In announcing the Series A funding, David Israel, Founder and CEO of GOOD PLANeT Foods stated, “Our mission continues to be developing great tasting cheeses that are ‘GOOD for YOU and GOOD for the PLANeT’. We are gaining significant momentum and will continue to play a significant role in increasing awareness of the plant-based foods category. By partnering with these strategic investors, we’ll be able to move forward more aggressively with additional focus on product development, sales and marketing.”

 

“Consumers are expecting great-tasting foods that also support environmental sustainability. GOOD PLANeT Foods delivers on those expectations,” shared Don Thompson, CEO and Founder of Cleveland Avenue. “We’re excited to partner with GOOD PLANeT Foods and this impressive group of investors to continue to build on this growth opportunity in the plant-based category.”

 

Commenting on the brand’s capacity for growth, Ray Lane, Managing Partner of GreatPoint Ventures shared, “It’s exciting to be able to help fuel a brand’s success. Based on our experience with consumer trends in other segments of the plant-based category, GOOD PLANeT certainly has the potential to become a leading influential brand. We’re looking forward to encouraging big things from this company.”

 

To learn more about GOOD PLANeT Foods, visit https://goodplanetfoods.com, and for more information about Cleveland Avenue, visit http://www.clevelandavenue.com.

 

About GOOD PLANeTTM Foods

With the mission to be and do good for you and the planet, in everything, GOOD PLANeTTM Foods offers premium plant-based cheeses in both shredded and sliced varieties. The plant-based cheeses are made from coconut oil and plant starches that help create the texture and meltability of dairy cheese. GOOD PLANeT Foods provides a healthy alternative to dairy cheese without having to compromise on taste. Free from the eight primary allergens including dairy, nuts, soy, eggs, and wheat, GOOD PLANeT Foods is gluten-free, certified vegan, kosher, halal and Non-GMO Project verified. Available for retailers and food service, please visit www.GoodPlanetFoods.com for more information. Follow us on social media at @goodplanetfoods.

 

About Cleveland Avenue

Cleveland Avenue, LLC is a privately-held venture capital firm which accelerates and strategically invests in innovative restaurant, food and beverage concepts.

 

 

 

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