Fast-growing web retailer NatureBox raises $30 million
May 8, 2015 12:29 PM
NatureBox Inc., which sells online subscribers monthly packages containing what it claims are healthy snacks, just raised a healthy dose of funding in its latest round.
The retailer, No. 387 in the 2015 Internet Retailer Top 500 Guide, announced it has raised $30 million in Series C funding, giving the company a total of nearly $60 million in funding since it was founded in 2012.
"This latest funding round will help further grow our leadership in the rapidly growing online snack space, and allow us to bring our brand to even more consumers through new retail channels, eating occasions and market launches," says co-founder Gautam Gupta.
Top500Guide.com data shows the company has enjoyed rapid growth in its brief history. NatureBox is one of three finalists, along with The Honest Co. (no. 195) and Uniqlo (No. 495), for the Newcomer of the Year award at the 2015 Internet Retailer Excellence Awards which will be presented Wednesday, June 3, in Chicago at the Internet Retailer Conference and Exhibition. Its sales have grown over 300% since it was founded in 2012, to an Internet Retailer-estimated $44.25 million in 2014 from $10 million in its first year. In June, the retailer announced plans to expand to Canada.
Internet Retailer data shows that its site boasts a 6.0% conversion rate and receives an estimated 2.6 million visitors per month. Its audience is predominantly women (60%), with 44% of its shoppers falling in the 35-54 age range.
NatureBox isn’t the only online specialty food retailer finding success raising funds. In November, web-only organic grocery retailer Door-to-Door Organics, No. 446 in the Internet Retailer 2015 Top 500 Guide, announced it had raised $25.7 million in its latest round of funding.