SimplyProtein Announces Latest Funding Round, Continued North American Expansion
Growth capital set to accelerate distribution, along with investments in marketing and innovation
The SimplyProtein® brand has its sights on 2022 being its most transformative yet as it continues to expand in the North American market. In November 2021, Wellness Natural Inc., the parent company of the SimplyProtein brand, raised $8.5M in a Series B funding round. This round is focused exclusively on growth capital to accelerate distribution gains in the US and Canada, scale eCommerce, increase investments in marketing programs and bring new product innovations to market.
To meet consumers where they are at in terms of their ever-evolving shopping and purchasing behaviors, the SimplyProtein team is intentionally taking a multi-channel approach to its distribution. Distribution with key retailers continues to expand in the US, with SimplyProtein products now available at 400+ Meijer stores, and the Northeast, San Diego, and Los Angeles Costco regions. Having seen a +268% compounded growth rate in the last 2 years, eCommerce remains a critical growth channel for the SimplyProtein brand as it continues to invest in digital shopping through partnerships with online retailers such as Amazon and through its own direct-to-consumer platform.