Separator

Kate Farms Closes the First Round of Series A Funding

Separator
Kate Farms Closes the First Round of Series A Funding

Manoswita Naha, Content Writer, Press Release

A premier brand in plant-based enteral nutrition & tube feed formulation, Kate Farms announces the completion of the first $23 million Series A-1 funding round with net raise of $48 million revenue. The first round of financial pooling in series A was pushed by corporate mavens; John Hammergren (Former Chairman & CEO, McKesson), Gregg Engles (Former Chairman & CEO, WhiteWave Foods), William Loomis (CEO, Lazard), and Kristin Loomis (Founder & Executive Director, HHV6 Foundation) led by David Roux (Co-Founder, Silver Lake). Besides the board member of the Kate Farms, Carol Ammon (registered nurse & longtime pharmaceutical CEO), Celeste Clark (Ph.D., registered dietitian), Pete Nicholas (Founder, Boston Scientific) and three other Angel Investors also invested for Kate Farm’s growth rally.

“As an early investor, I see some parallels between Kate Farms and Boston Scientific. By disrupting the medical device market, we ultimately created better patient outcomes. Likewise, Kate Farms, by bringing superior plant-based medical nutrition to the market, is disrupting what is basically a stagnant category—and driving great patient outcomes too. With this seasoned team and strong culture, I'm confident Kate Farms will continue to change patients' lives,” says Pete.

While today it's much easier for consumers to find plant-based alternatives, whether at the grocery store or a fast-food outlet, the same options until recently have not been available to those who are medically compromised



Kate Farms also stated that the fund raised will be dedicated in accelerating growth, additional hiring, and innovation. As the company continues to drive change for clinically improved outcomes in the medical nutrition space, it will opt for a higher standard, plant-based formulas to provide top graded products in the market.

“While today it's much easier for consumers to find plant-based alternatives, whether at the grocery store or a fast-food outlet, the same options until recently have not been available to those who are medically compromised. Kate Farms is specially formulated to help those people with major medical conditions, who often rely on us for 100 percent of their nutritional intake, to not only improve their health but to be able to live their best life,” says Matthews. “I am honored to be part of a team that partners with health care professionals and patients to support them in their overall care and to help them navigate insurance coverage. We lead with our hearts and expertise and are committed to caring for people. Together, we will serve the millions and millions of people with chronic diseases and help them thrive,” adds Matthews.
Source : Press Release