Revolution Growth Invests in Healthy Meal Provider, Revolution Foods
New Funding Will Accelerate Expansion of Affordable, High-Quality Food into New Schools and Stores
WASHINGTON & OAKLAND, Calif., June 4, 2014-- Revolution Foods, the preeminent provider of healthy, kid-inspired school meals and retail products, today announced a significant new investment from Revolution Growth. As part of the investment, Steve Case will join the company’s board. The investment will help Revolution Foods expand its school meal service and line of ready-to-eat Meal Kits into new schools and stores, providing more American families with access to affordable, delicious healthy food.
Founded by two moms with backgrounds in education, Kristin Groos Richmond and Kirsten Saenz Tobey, Revolution Foods helps solve the challenge of providing access to high-quality, delicious food that meets (and exceeds) the Healthy Hunger Free Kids Act requirements under the National School Lunch Program and Child Adult Care Food Program guidelines, which allow school meals to be reimbursable. The company currently prepares and delivers more than one million fresh meals each week to approximately 1,000 schools nationwide, the majority of which are in the nation’s most underserved communities.
Revolution Foods Meal Kits, launched in 2013, are available in grocery stores throughout the country, and the high-quality ingredients make them the first of their kind in the category. Their kid-designed meals are made from high-quality, natural ingredients that never include high fructose corn syrup or artificial colors, flavors or preservatives.
“We are thrilled that Revolution Growth believes, as we do, that kids should not have to face a tradeoff between eating great-tasting healthy food and eating affordably,” said Kristin Groos Richmond, co-founder and CEO of Revolution Foods. “We look forward to partnering with Steve Case and the Revolution Growth team as we bring our mission of building lifelong healthy eaters to families across the United States.”
"There are many facets to addressing the healthcare challenges we face in our country – and one of them is access to healthier food options at home, at work, on the road, and especially in our schools,” said Steve Case. “Revolution Foods is poised to build an iconic brand and company by unleashing a revolution in healthy eating that kids, parents, teachers and communities can all celebrate.”
Revolution Foods’ unique distribution model allows them to deliver fresh and healthy meals to schools every day via seven culinary centers, which employ more than 1,000 individuals around the country with an emphasis on providing jobs for inner city workers. Revolution Foods’ school meals are reimbursable to students who qualify and costs are kept low in part by an innovative supply chain and national scale.
Families can also bring Revolution Foods into their homes via the company’s Meal Kits, available in more than 2,000 grocery stores (such as Safeway, Vons and HEB) throughout the U.S. As with their school meals, the Meal Kits are made with high-quality ingredients and no artificial colors, flavors or preservatives or high fructose corn syrup.
About Revolution Growth
Founded and led by Steve Case, Ted Leonsis, and Donn Davis, Revolution Growth invests in companies that can change the world. Its mission is to build disruptive, innovative businesses that offer consumers more choice, convenience, and control in their lives. By taking a long-term approach and developing a true, hands-on partnership with entrepreneurs and management teams, Revolution Growth brings a unique strategy and passion to investing in and building significant companies. For more information, visit www.revolution.com/growth.
About Revolution Foods
Revolution Foods is committed to transforming the way America eats by providing access to great-tasting, healthy meals for families across America. Since its founding in 2006, it has served over 100 million healthy, kid-designed affordable meals to schools across the country. Expanding upon its success in schools, Revolution Foods launched a line of high-quality, ready-to-eat Meal Kits, available at retail. Today, its 1,000+ locally-hired employees share in the Revolution Foods mission by creating and delivering over one million freshly prepared meals to students in schools, every week. Based in Oakland, CA it was twice named the second fastest growing company in America’s inner cities by the Inner City 100 List and ranked by Fast Company as #6 (for food) on the world’s 50 Most Innovative Companies. For more information visit http://www.revolutionfoods.com.
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