SIMPLi secures new funding, expands retail footprint with Whole Foods
Ethically-sourced ingredient brand SIMPLi has announced two major recent steps that could be a sign of things to come for the company. In addition to securing seed funding, SIMPLi has partnered with Whole Foods to sell its regenerative organic, red, white, and tri-colored quinoa products.
The seed funding round was led by the Abell Foundation, a group that invests in promising Baltimore-based companies that offer attractive returns and environmental and social benefits. Since its launch in early 2020, the company is on track to increase its year-over-year revenue by six times. Seth Goldman, co-founder of Eat the Change and Honest Tea, and Chair of the Board of Beyond Meat is one of the foundation’s investors.
"We see a tremendous opportunity to boost consumer confidence in our global food supply chain, while improving the environment through regenerative agriculture practices and supporting the livelihoods of the farmers and communities we work with," said Sarela Herrada, co-founder of SIMPLi. "We're thrilled to have incredible investors who believe that our brand is changing the food industry for the better."
New funding isn’t the only thing that could help SIMPLi grow. The company’s quinoa products will now be available at 49 Whole Foods locations in Pennsylvania, Maryland, Ohio, Kentucky, New Jersey, Virginia, and Washington D.C., expanding its retail footprint.
"Our partnership with Whole Foods is an exciting amplification of our work to bring the best, sustainably sourced ingredients from around the world to kitchens everywhere," said Matt Cohen, SIMPLi’s other co-founder. "Expanding our national footprint with such a prominent partner affirms the success of our business in less than two years since our launch."
SIMPLi has developed partnerships with national brands like Daily Harvest, Sweetgreen, and &pizza, among others, to become their wholesale partner and source and deliver the international ingredients. The Whole Foods debut will add to the 100+ brick and mortar stores in the Mid-Atlantic region and various e-commerce platforms that SIMPLi products are currently available at.