Blue Apron racks up $50 mln

Blue Apron said Wednesday that it has closed $50 million in funding. Stripes Group led the round with participation from previous investors that included Bessemer Venture Partners and First Round Capital. According to the firm, the capital infusion will be used for growth. Based in New York, Blue Apron is a delivery service of fresh ingredients for home-cooked meals.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Blue Apron, a New York based startup that delivers all the fresh ingredients needed to cook incredible meals at home, announced $50 million in new funding today, led by Stripes Group. Lead investors from the company’s Series B funding round in August 2013 also participated in this round, including Bessemer Venture Partners and First Round Capital.
The raised capital will be used to support Blue Apron’s business growth, including hiring across all divisions, geographic expansion, additional warehouse space and investment in operations technology, marketing, and ongoing investment in the company’s dedicated supplier partnerships.
“Blue Apron is a leader and innovator, changing the way people cook and eat,” said Stripes Group’s Managing Partner Ken Fox. “The company’s direct supplier relationships, paired with their efficient logistics operation, enables them to provide food at peak freshness to consumers throughout the United States better and cheaper than traditional grocers. By disrupting the food supply chain from the farm to the dinner table, Blue Apron is revolutionizing the way that people think about and cook food. We look forward to being a part of the company’s continued success.”
Blue Apron is experiencing rapid growth across all areas of the business. To date, the company now delivers over 600,000 meals per month to customers across the country, up from 100,000 per month in August 2013. The company anticipates more than doubling its employee base by the end of 2014. To meet customer demand, the company will grow its warehouse space by over 10 times in the coming months.
“Our mission is to make incredible home cooking accessible to everyone,” says Matt Salzberg, Blue Apron co-founder and chief executive officer. “We hear from customers daily that we’re changing their lives – they’re learning to cook with new ingredients and techniques, they’re trying new cuisines, and they’re spending more time in the kitchen having fun with family and friends.”
About Blue Apron
Blue Apron makes incredible home cooking accessible by delivering original recipes and fresh ingredients to customers nationwide. Launched in 2012, Blue Apron delivers 600,000 meals a month to its loyal following of home chefs. By reinventing the grocery supply chain from the farm to the dinner table, Blue Apron is able to source top-quality, seasonal ingredients, that are fresher and more affordable than customers can get on their own at their local supermarket. Chefs around the world wear blue aprons when learning to cook, and the blue apron has become a symbol of lifelong learning in cooking. Blue Apron encourages this lifelong learning by introducing members to new ingredients, flavors and cooking techniques with every recipe it creates. For more information, visit: http://www.blueapron.com.

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