Black female-founded snack company Partake Foods is starting the new year on solid financial ground. According to Forbes, the food brand entered 2021 with millions of dollars from a mega roster of celebrity investors. Leading the pack is R&B singer, Rihanna, former NBA player Kevin Johnson’s Black Capital, and NFL player Bobby Wagner’s Black Star Fund.
The fourth quarter of fundraising ended with the company, led by founder and CEO Denise Woodard, snagging $4.8 million for operations, product manufacturing, marketing, etc.
It is reported that half of all of the Partake Food investments came from Black investors and musicians like Jay-Z’s VC fund, Marcy Venture Partners, and Grammy Award-winning singer H.E.R. who contributed to their total raise of $7.5 Million. With the help of these notable influencers, Woodard has made history becoming the first woman of color to raise $1 million for a food startup.
Founded in 2016, Partake Foods offers a range of gluten-free cookies that are free from the eight major allergens, including dairy, eggs, fish, shellfish, tree nuts, peanuts, wheat and soy. Products include crunchy and soft-baked cookies in such flavors as birthday cake, triple chocolate and ginger snap. The brand recently launched a five-in-one baking mix that is free of the top eight allergens.
Founder and chief executive officer Denise Woodard left a decade-long career at the Coca-Cola Co. to launch the brand after her infant daughter was diagnosed with severe food allergies. The company previously raised $1 million in funding from investors including Jay-Z’s venture fund, Marcy Venture Partners. Partake cookies are sold nationwide at Target, Whole Foods Market and Sprouts Farmers Market stores.