BetterBrand, the food tech company revolutionizing the refined carb space, has recently announced the closing of an impressive $6 million in Series A funding. This latest funding round, led by VERSO Capital, places BetterBrand’s valuation at an impressive $170 million, more than double that of tech giants like Facebook, Stripe, and Tesla. Aimee Yang, the sole female founder of BetterBrand, has set a historical record in valuation as one of only 150 female founders to raise a Series A over $5 million from institutional investors.
The Series A funding round saw participation from prominent venture capital firms such as Gaingels Fund, Alexis Ohanian’s Seven Seven Six, and Craft Lane. Notable individuals, including Cruise Founder and CEO Kyle Vogt, venture capitalist Chris Hollod, and investors Jeff and Glenne Azoff also joined the round. BetterBrand has attracted attention from investors due to its high growth trajectory, innovative “grain-changing” technology, and vast market potential.
Aimee Yang, Founder & CEO of BetterBrand, expressed excitement about the future, stating, “We are thrilled about this next chapter for BetterBrand to support our rapid global expansion and continued innovation. This is yet another example of how our mission – proving that the impossible is possible – is demonstrated through practice and touches not only our product innovation but the massive potential of Better’s power and scale.”
BetterBrand has experienced significant momentum, with an extraordinary 800% year-over-year growth between 2021 and 2022. The company is on track to achieve similar growth from 2022 to 2023. One of the drivers of BetterBrand’s success is its hero product, ‘The Better Bagel.’ This innovative offering transforms the traditionally carb-heavy bagel into the net carb equivalent of two banana slices while boasting 250% more protein, 90% fewer carbs, and no added sugar. In 2022, ‘The Better Bagel’ became the top new product entrant in the Natural retail channel.
The company made its large-scale retail debut with a global launch at Whole Foods Market in the third quarter of 2022, generating over $1 million in sales in just five months. BetterBrand’s products, including ‘The Better Bagel,’ are available online and in over 1,500 stores across the United States, including popular retailers like Sprouts, Fresh Market, Giant, and Bristol Farms.
BetterBrand plans to unveil 16 new SKUs (stock-keeping units) in the coming months and aims to enter new markets across North America and Europe. Under the leadership of Michelin-starred baker Matthew McDonald, each new product will combine timeless flavors with the company’s unique Grain-changing Technology™, ensuring healthier options without compromising taste. The company’s mission is to reinvent the bread aisle and transform traditionally carb-laden foods into healthier alternatives that remain delicious and satisfying. BetterBrand’s proprietary Grain-changing Technology™ combines non-GMO, clean-label ingredients to create a range of better-for-you baked goods.
Aimee C. Yang, the driving force behind BetterBrand, is an exceptional entrepreneur and operator. Her ability to innovate and drive change sets her apart as a founder. Yang’s background in consulting, operations, and litigation, combined with her educational achievements—a Bachelor’s degree from the University of Illinois and an MBA from the University of Pennsylvania’s Wharton School—provide her with a unique skill set to lead BetterBrand’s success.
BetterBrand’s achievements and growth trajectory signify a significant shift in the way we view and consume refined carbohydrates. Through their innovative approach and dedication to providing healthier options, BetterBrand is revolutionizing the food industry and paving the way for a better future for food.
Image provided by BetterBrand