# Tovala

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tovala

- Industry: Consumer Products
- Headquarters: Chicago, US
- Website: www.tovala.com
- Total disclosed funding: $68M
- Latest round: Series C (Aug 18, 2022)
- Investors on record: 15

## About

Tovala, founded in 2015, is a meal delivery company that specializes in providing chef-crafted meals prepared using their proprietary Smart Oven. The company is headquartered in Chicago, US. Founded by Bryan Wilcox (CTO) and David Rabie (CEO), In August 2022, Tovala raised Series C funding from FJ Labs.Tovala offers a unique meal delivery service centered around its core product, the Tovala Smart Oven, which simplifies home cooking. The service includes over 35 chef-crafted meals delivered weekly, requiring only one minute of preparation. Customers can scan a barcode on the meal packaging with the Smart Oven, which accesses a chef-perfected cooking cycle via WiFi, ensuring meals are prepared to restaurant-quality standards in 20 minutes or less. Target customers include busy professionals, families, and individuals seeking convenient, high-quality meal options. Tovala operates primarily within the contiguous United States, focusing on urban markets with high demand for meal delivery services.Tovala generates revenue through a subscription-based model, providing flexible meal plans that cater to varying customer needs. Customers select meal plans offering 4 to 16 meals per week, starting at USD 9.99 per serving, averaging USD 12.99 per meal. The Tovala Smart Oven is available at a promotional price of USD 69 for customers who commit to ordering meals six times over six months. This strategy encourages ongoing subscriptions while offering the convenience of ready-to-cook meals that require minimal preparation and cleanup. Tovala's revenue structure is focused on direct-to-consumer sales facilitated through its online platform, where customers manage meal selections, delivery schedules, and payments.Tovala plans to utilize the recent USD 30.00 mn raised in their Series C funding round to enhance their product offerings and expand into new geographic markets. The company is exploring the design and launch of new meal options and is targeting expansion beyond urban centers in the contiguous United States. The specific details regarding new product launches and market entry dates are yet to be announced.

## Funding rounds

- Series C, Aug 18, 2022 — FJ Labs
- Series C, Feb 4, 2021, $30M — Pritzker Group Venture Capital, Comcast Ventures, Finistere Ventures, Origin Ventures, OurCrowd, Left Lane Capital
- Series B, Jun 2, 2020, $20M — Pritzker Group Venture Capital, Comcast Ventures, Finistere Ventures, Origin Ventures, New Stack Ventures, OurCrowd, The University of Chicago, Rich Products Ventures
- Series A, May 31, 2019, $7.1M — New Stack Ventures
- Series A, Dec 18, 2017, $9.2M — Pritzker Group Venture Capital, Origin Ventures, Y Combinator, RiverPark Advisors
- Seed, Oct 18, 2016, $1.6M — Origin Ventures, STRIVE, Service Provider Capital, New Stack Ventures
- Seed, Jan 19, 2016, $0.5M — Valor Equity Partners, Origin Ventures, Y Combinator, RiverPark Advisors, New Stack Ventures

## Investors

- Valor Equity Partners (https://capitalatlas.ai/funds/valor-equity-partners) — Seed
- Origin Ventures (https://capitalatlas.ai/funds/origin-ventures) — Seed, Series A, Series B, Series C
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series A
- RiverPark Advisors (https://capitalatlas.ai/funds/riverpark-advisors) — Seed, Series A
- New Stack Ventures (https://capitalatlas.ai/funds/new-stack-ventures) — Seed, Series A, Series B
- STRIVE (https://capitalatlas.ai/funds/strive) — Seed
- Service Provider Capital (https://capitalatlas.ai/funds/service-provider-capital) — Seed
- Pritzker Group Venture Capital (https://capitalatlas.ai/funds/pritzker-group-venture-capital) — Series A, Series B, Series C
- Comcast Ventures (https://capitalatlas.ai/funds/comcast-ventures) — Series B, Series C
- Finistere Ventures (https://capitalatlas.ai/funds/finistere-ventures) — Series B, Series C
- OurCrowd (https://capitalatlas.ai/funds/ourcrowd) — Series B, Series C
- The University of Chicago — Series B
- Rich Products Ventures (https://capitalatlas.ai/funds/rich-products-ventures) — Series B
- Left Lane Capital (https://capitalatlas.ai/funds/left-lane-capital) — Series C
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Series C