Gobble Announces $15 Million Series B
Gobble Announces $15 Million Series B
Khosla Ventures, Andreessen Horowitz, Initialized Capital and Trinity Ventures invest in 15-minute meal-kit provider to fuel national expansion, fortify team, and fund culinary and technical R&D
PALO ALTO, CA --(Marketwired - October 06, 2017) - Gobble, which provides pre-assembled, freshly prepared one-pan meals that busy families can cook in 15 minutes, today announced its $15 million series B.
Khosla Ventures leads the investment. Other Series B investors include Andreessen Horowitz, Initialized Capital and Trinity Ventures.
"We're thrilled to be backed by many of Silicon Valley's most esteemed investors, the visionaries who have helped build the most successful technology companies in the world. This investment will accelerate our capacity to address a very real pain point felt by today's busy working families: their utter lack of free time. Using our dinner kits, parents become Dinner Heros, able to lead their busy lives but still manage to create and enjoy nourishing meals with their loved ones. Our ultimate goal is to help make every day's dinnertime special again," writes Ooshma Garg, Gobble founder and CEO.
"The meal-kit market comes with strict logistics and business model constraints. Gobble has grown largely through word-of-mouth from their delighted, almost cult-like following of busy families. As a result of this and their ability to solve the many financial and supply chain challenges inherent in the meal-kit market, Gobble is the only meal-kit service that has made their unit economics work exceptionally well and has actually created a high barrier to entry to their business," says Khosla Ventures Investment Partner, Keith Rabois.
Gobble launched its signature 15-minute one pan dinner kits in late 2015 across California and, over the following two years, expanded to seven states across the West Coast. The company began its aggressive national expansion in the fall of this year and now serves 32 states with each distribution center already at or beyond a break-even cost structure.
In addition to fueling expansion, Gobble will use the funds to fortify an already strong team. Gobble's culinary department is led by Michael Mina protege and now Gobble Executive Chef Thomas Ricci, who was recently joined by former Eatsa and Del Monaco Foods R&D Chef Nancy DeMartini-Bailey. Gobble's logistics efforts are now led by Steve Robinson, former VP of Global Logistics at Starbucks. Gobble's robust data science and engineering teams, which include veterans from Instagram, Medium, PayPal, Practice Fusion, and other high caliber technology companies, will grow their organizations to advance the company's "taste mapping" technology which employs complex personalization algorithms to develop custom menus for each family based on unique taste preferences and dietary needs, as well as regional trends.
"Meal-kit services are deceptively complex. To succeed, they must deliver an exceptional product, overcome daunting logistics, establish a loyal, ongoing following, and build up long-term competitive barriers to entry. Gobble has met and surpassed all of these criteria," writes Initialized Capital General Partner Garry Tan. "Gobble's investments in culinary R&D and data science have enabled them to build a valuable member base who trust Gobble with their accounts running on 'autopilot'. This investment will accelerate Gobble's growth and help solidify their leadership position as the best end-to-end company in the meal-kit market."
Gobble 15-minute one pan meal kits are $11.95 per meal for 6 or more meals per week -- tax and shipping included.
At Gobble, we help busy families make dinnertime special again. Voted Parent Magazine's #1 Meal Kit Subscription for Families, our fresh, delicious and healthy one-pan meals arrive prepped and ready to serve in 15 minutes or less. Meal kits are so easy that anyone -- even kids -- can cook delicious, satisfying meals at home. Gobble's proprietary taste mapping technology suggests weekly meals personalized for each family's dietary and taste preferences. Internationally inspired menus designed by celebrated chefs will delight your family's taste buds and transform you into a Dinner Hero. The company has received $26M in venture funding from Silicon Valley titans including Khosla Ventures, Trinity Ventures, Initialized Capital, and Andreessen Horowitz, along with founders and executives from PayPal, LinkedIn, Google and Facebook. www.gobble.com.