Beanfields closes Series B round with leading industry investors
Plant-based bean chip brand set to further accelerate growth
Beanfields, the Los Angeles-based brand of better-for-you chips that are wholesome, satisfying and positively addicting, announced the closing of their Series B capital financing round. Investors coming in this round include NRV, Western Technology Investment, and lead investor PowerPlant Ventures. After a record-breaking 2018 and triumphant year for the brand, Beanfields will use this funding to support the launch of their new innovation items, deepen revenue in the existing SKUs, build team infrastructure, and increase operation runs that give the brand max optionality by the end of 2020.
“Arnulfo (CEO), Jim (CFO/COO) and the team have delivered excellent results and now, as they roll out their delicious innovation, we believe more than ever that Beanfields will be one of the next great snack brands," shared managing director of PowerPlant Ventures, Mark Rampolla. Reflecting on the Series B round, Beanfields CEO Arnulfo Ventura added, “We are so honored to have had a flood of interest in this round leading to a meaningful oversubscription, which is a testament to the love Beanfields is receiving from consumers, retailers and investors alike.”
Beanfields has exhibited an impressive 12 consecutive months of year-over-year (YOY) sales growth which included eight consecutive record-breaking sales weeks in the latter part of 2018 following CEO Ventura’s arrival. January 2019 brought the highest monthly sales in Beanfields history and signified triple digit YOY percentage growth. Ventura commented, “Our work is only beginning and now for the first time we are showing a glimpse into the potential of this exciting, innovative and bold brand.”
Beanfields was founded in 2010, on a mission to replace unhealthy snacks with delicious, sustainable and nutritious chips. Beanfields chips are loaded with better ingredients, full-on flavor and crunch, exactly the way a chip should without fillers, only beans and brown rice. Each serving contains four grams of protein and four grams of fiber leaving you feeling satisfied, fueled and energized.
For more information on Beanfields, please visit www.beanfieldssnacks.com.