Known for its decadent flavor pairings like Cherry Hazelnut and Pumpkin Spice, Honey Mama’s has stayed on the Deli Market News radar for quite some time. Now, it seems the confectioner will quickly catch the eye of many both in stores and in the financial world. Honey Mama’s recently announced the completion of a total $10.3 million, two-phase Series A funding round led by Amberstone.
“Consumers are truly joyous when they experience our one-of-a-kind bars that prove wellness can go hand in hand with indulgence. The only question then becomes what flavor is their favorite!” said Founder Christy Goldsby. “Our mission to change how people think and feel about indulgence is at the center of everything we do. From day one, Amberstone has brought a shared belief in this objective—Honey Mama’s is altering the food conversation, and they see we are onto something big.”
The first phase, totaling $5.8 million, was completed in June 2020, with the follow-up round of $4.5 million complete as of August 2021. According to the release, this total Series A enables Honey Mama’s to continue exponentially growing in terms of brand awareness, emerging channel development, and product innovation. This cash infusion will serve to bolster Honey Mama’s brand reputation as a leader of the pack in the better-for-you indulgence category.
As a direct result of the Series A, Honey Mama’s is growing rapidly across all channels. In January 2021, the company debuted a full brand refresh and activated a multi-year product strategy, simultaneously strengthening its presence in the natural channel while extending to emerging online marketplaces and conventional grocery retailers. Honey Mama’s completed a nationwide expansion with Whole Foods Market in July, marking a significant milestone reflecting the increased demand.
“The past year stunned with record growth,” said Jared Schwartz, Chief Executive Officer of Honey Mama’s. “Nine months ago, we debuted a full portfolio refresh that was first conceived in 2018. We will close 2021 with dramatic revenue growth, proving to be a pivotal point for our exponential trajectory. Rarely do you come across a product that makes people light up as much as Honey Mama’s.”
Made from a foundation of five clean, whole food ingredients with no preservatives or shelf stabilizers, the bars are naturally free from refined sugar, gluten, grains, dairy, and soy for a plant-rich, anti-inflammatory alternative. With shoppers keeping an eye on wholesome ingredients, it’s no wonder Honey Mama’s bars are accelerating at such a fast pace.
“It is becoming abundantly clear that consumers understand and appreciate the attributes that are core to the Honey Mama’s brand—clean, simple ingredients delivering a nourishing and delicious product—which is reflected in category-leading velocities on-shelf,” shared Alexander Bernstein, Managing Partner at Amberstone. “In the time since we first invested, the team has executed a brand refresh, introduced incremental new product offerings, achieved national expansion, and is now launching into the leading conventional food retail chains across the country. We are thrilled to have the opportunity to deepen our commitment to Honey Mama’s as they continue to build a category-defining brand.”
Find out which brand to keep an eye out for and to stock your shelves with on Deli Market News.