Less than six months after raising $7M in a Series A round, PeaTos® announced that it has secured Post Holdings, Inc. to lead its $12.5M Series B round. The funds will enable PeaTos to continue driving its mission to revolutionize chips by adding nutrient-dense peas to the traditional corn base and replacing the artificial colors and flavors with more natural ingredients. PeaTos has experienced explosive growth and received widespread acclaim due to its unique approach of creating a better form of “junk food”, one that has all the flavor and fun of traditional snacks like Cheetos® and Doritos®, but all the nutrient claims of better-for-you options.
PeaTos has used proprietary technology and state-of-the-art innovation to create an incredible product that has that rare “WOW” factor. PeaTos have 2X the protein and 3X the fiber of their famous counterparts and none of the artificial junk, and yet they taste better. As a very young brand, PeaTos has been wildly successful in both gaining distribution and brand awareness by being resourceful in navigating the consumer-packaged goods (CPG) category. PeaTos has gone head-on at the competition, which has monopolized the category for decades in a classic David v Goliath battle. The brand has succeeded by using an over-the-top and amusing brand voice, leveraging unique partnerships, and strengthening relationships to a growing fan-base across the digital landscape. This next round of funding will enable the brand to further these efforts.
As consumers find themselves migrating into the online space with more frequency over the course of this pandemic, a brand’s relevancy depends on having a strong presence in both traditional retail and direct-to-consumer channels. PeaTos has developed a very strong and loyal online following and experienced massive growth in its direct-to-consumer business by adding new services such as subscriptions and a loyalty program to round out the new site launch.