Jennifer Garner’s Once Upon a Farm Files for IPO

Once Upon a Farm, an organic baby food company, has filed to go public on the New York Stock Exchange with the ticker OFRM, according to a new Securities and Exchange Commission document. It’s the latest in a flurry of venture-backed businesses taking advantage of the IPO window before the holidays.

Once Upon a Farm remains unprofitable, with a net loss of $28.5 million in the first six months of 2025 on $110.6 million in revenue. During the first six months of 2024, it had a net loss of $4.2 million on $65.8 million in revenue. The company estimates that its products are available at more than 430,000 points of distribution.

Founded in 2015 by Cassandra Curtis and Ari Raz, the company added actor/producer Jennifer Garner as a co-founder and chief brand officer two years later, as well as former Annie’s chief executive John Foraker as co-founder and CEO.

Media reports earlier this year said the company could seek a valuation of $1 billion for its public listing. When it raised a $52 million Series D in 2022, it was valued at about $371 million, according to PitchBook data.

The firm’s public performance is sure to draw comparisons with the Honest Company, a consumer packaged-goods brand co-founded by actor Jessica Alba, which went public at a $1.44 billion valuation in 2021 but has since seen its stock price tumble. Major investors in Once Upon a Farm include CAVU Consumer Partners, S2G Investments, and Cambridge Companies SPG.