January 14, 2021
Open Farm, a premium pet food brand committed to raising the bar on the way we feed our pets, has received over $65 million (CAD $80mm+) in its latest round of funding. The round was led by leading global growth equity firm General Atlantic. General Atlantic joins the company’s leadership team and existing minority partner, Encore Consumer Capital, on Open Farm’s long-term growth journey. The funding will be used to accelerate Open Farm’s mission to Do Some Good® for animals and the planet, introduce the brand to millions of new pet parents, and support continued innovation to transform the way pets are fed through high-quality nutrition.
Since 2014, Open Farm has worked to make premium quality pet food offerings accessible and customizable to every pet and pet parent’s needs. With annualized growth exceeding 100% over the last five years, Open Farm can now be found in over 5,500 neighborhood pet retailers across North America, as well as online at OpenFarmPet.com. Open Farm started out with three products and is now recognized in the category for its product innovation, with a full suite of premium offerings ranging from dry dog food to fresh meals and supplements.
“While the pet food category has experienced significant brand proliferation, it is still the case that meaningful forms of differentiation can and do exist,” said Bryan Jaffe, Managing Director at Cascadia Capital. “The success of Open Farm is a function of its authentic mission-driven strategy and a relentless focus on execution. The convergence of these factors sets the brand apart in the mind of pet parents and drove very strong interest from equity investors in our process. We are grateful to have our brand associated with Open Farm and we appreciated the opportunity to work with such a talented set of founders and marquee investors.”
“This is an exciting milestone for Open Farm and a testament to the amazing foundation our team has built over the last six years. This new partnership allows us to invest more aggressively to further accelerate the business through awareness marketing, innovation, and retail execution,” said Isaac Langleben, Co-Founder and CEO of Open Farm. “Cascadia was a great partner through this process. They took the time to understand our vision and what we were looking for in a partner, and executed at a high level and breakneck pace to support this fantastic outcome for our business.”
The funding of Open Farm represents another successful transaction in the pet industry for Cascadia Capital and a continued demonstration of our experience in the consumables category. Recent Cascadia pet consumables clients include I and love and you, Wet Noses, Nulo, and Fruitables.
For more information about this transaction, please contact the Cascadia Capital deal team: