This week, vegan cookie brand Partake Foods announced it has closed a $4.8 million Series A round of financing. The investment round included participation from musical artist Rihanna along with existing investors such as Jay-Z’s Marcy Venture Partners (MVP), Kevin Johnson’s Black Capital, and Seattle Seahawks’ Bobby Wagner’s Black Star Fund.
Founded in 2016, Partake specializes in allergen-free cookies that founder, and former Coca-Cola executive, Denise Woodward created for her young daughter. “With this group of strategic partners and added financing, Partake continues our mission of making super delicious and safe food that those with and without dietary restrictions can enjoy,” Woodard said. “The demand for thoughtfully-made cookies, snacks, and treats is clear, and we are excited to continue to provide plant-based, safe, and crave-worthy foods to consumers.”
Vegan cookies take off
After raising a $1 million investment led by MVP in 2019, Partake expanded distribution of its vegan cookies to 1,600 Target stores nationwide last year. Currently, the brand’s vegan cookies—available in five crunchy flavors and three soft-baked varieties—are found in 2,700 stores. With the new funding, Partake aims to double its distribution in the first quarter of 2021.