# Kate Farms

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/kate-farms

- Industry: Food
- Headquarters: Santa Barbara, US
- Website: www.katefarms.com
- Total disclosed funding: $152M
- Latest round: Series C (Sep 1, 2022)
- Investors on record: 4

## About

Kate Farms, Inc. specializes in organic, plant-based nutritional products, focusing on medical nutrition formulas and pediatric nutrition designed to support specific dietary needs and health conditions.Founded in 2012 in Santa Barbara, US, Kate Farms, Inc. is dedicated to producing nutritional products tailored to diverse dietary requirements. The company has achieved significant funding success, recently raising USD 108.00 mn in Series C funding led by Novo Holdings. The CEO is Brett Matthews, and the founders are Michelle Laver and Richard Laver.Kate Farms specializes in producing organic, plant-based nutritional products, including a range of tube feeding formulas and shakes designed to meet diverse dietary needs. Their core offerings encompass medical nutrition formulas, such as Standard 1.0 and Peptide 1.0, along with specialized nutrition options for specific health conditions like glucose support and renal support. Additionally, the company provides pediatric nutrition products aimed at children aged 1-13, including pediatric blended meals and specialized formulas for children with specific medical conditions. These products are available through various channels, including hospitals, homecare settings, and select retail locations, such as Target stores, primarily in the United States. The company's customer base includes healthcare providers, patients requiring medical nutrition, and families seeking nutritious options for children.Kate Farms generates revenue through direct sales of its nutritional products to consumers, healthcare providers, and institutions. The company's business model includes subscriptions for recurring product deliveries, allowing customers to receive regular shipments of their favorite items while enjoying a discount on each order. Transactions are structured primarily as direct-to-consumer sales, with options for healthcare professionals to recommend products for their patients, often requiring a prescription for insurance coverage. Pricing for products such as their flagship meal replacement shakes and formulas varies based on the specific product and order quantity, with promotional offers for bulk purchases or subscriptions. The company’s strategic partnerships with healthcare providers and inclusion in insurance plans facilitate wider accessibility to its product offerings, enhancing revenue potential within the medical and retail markets.In September 2022, Kate Farms, Inc. raised USD 75 mn in Series C funding to accelerate innovation in its current product portfolio, develop new products, and enter new channels. This funding will support the company's strategy to launch several new products focusing on plant-based nutritional solutions tailored for specific health needs. The company is also planning to expand its distribution into new geographic regions, targeting increased market penetration in additional states across the US by 2023. Through these initiatives, Kate Farms aims to enhance its reach and meet the growing demand for plant-based nutritional options.

## Funding rounds

- Series C, Sep 1, 2022, $108M — Goldman Sachs Asset Management, Kaiser Permanente Ventures, Novo Holdings, Main Street Advisors
- Series B, Oct 28, 2020, $44M — Goldman Sachs Asset Management, Kaiser Permanente Ventures

## Investors

- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series B, Series C
- Kaiser Permanente Ventures (https://capitalatlas.ai/funds/kaiser-permanente-ventures) — Series B, Series C
- Novo Holdings — Series C
- Main Street Advisors (https://capitalatlas.ai/funds/main-street-advisors) — Series C