Purely Elizabeth Closes $50m Series B Funding Round

Abstract financial chart with dollar sign and arrow in chalk Scribble design on blue color background

Boulder, CO—Purely Elizabeth has closed a $50m Series B financing round, led by the SEMCAP Food & Nutrition Division, which was joined by Swander Pace Capital and Fresh Del Monte.

Over the last five years, Purely Elizabeth has grown with a 55% CAGR. The company has nearly doubled its retailer doors in the past four years, from 8,000 retailers in 2018 to 15,000 retailers in 2021.

“Since 2016, SEMCAP’s John Haugen and Ryan Newcom have served on my board and played an instrumental role in helping scale the business,” said Elizabeth Stein, Purely Elizabeth Founder and CEO. “We share the same vision and values for the brand, which were our most important aspects when choosing an investment partner. We are beyond lucky.”

Related: Better-For-You Soda Brand Harnesses Star Power in Series B Funding Round
NadaMoo Closes Series B Funding Round
Ardent Mills Releases FY21 Corporate Social Responsibility Report

The money will be used to expand Purely Elizabeth’s SKUs within their current line of offerings, and to launch the brand in a whole new category, to be announced at a later date.

“Purely Elizabeth is catalyzing change in the food and nutrition space and changing the way food is made through its commitment to clean, sustainable ingredients that are packed with nutrition, while simultaneously delivering great taste,” said John Haugen, SEMCAP Food & Nutrition Managing Partner. “Purely Elizabeth has also shown a tremendous record of growth and stellar performance, led by a genuine, purpose-driven founder who is a joy to partner with. We are thrilled to continue building on an amazing relationship that has existed for over five years.”