Sprig On-Demand Meal Service Raises $45 Million
Sprig On-Demand Meal Service
Sprig, a leading on-demand meal service, announced Wednesday it has raised Series B financing of $45 million USD from lead investor Social Capital and existing investor Greylock Partners.
The company also announced it will be expanding its service from San Francisco to cities across the country, beginning first with the rest of the San Francisco Bay Area and Chicago with more cities by end of 2015.
This round paves the way for national availability of Sprig, which enables customers to order healthy, organic and ready-to-eat meals from their smartphone.
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As part of the funding round, Ted Maidenberg of Social Capital will join Sprig’s Board of Directors, which includes Simon Rothman of Greylock Partners and Sprig co-founder and CEO, Gagan Biyani.
Hunger and malnutrition are responsible for more deaths worldwide than any other cause. Even in the United States, one in six Americans goes to bed hungry at night. Future generations will also be faced with feeding the exploding population, which is expected to top 9 billion by 2050. Read: HungerU to Fight Against World Hunger
In addition to Greylock Partners, existing investors Accel Partners, Battery Ventures, Pascal Levy-Garboua, 500 Startups, Ludlow Ventures, Haroon Mokhtarzada, Russ Fradin, Jim Payne, and Justin Waldron all participated in the round.
Alongside Social Capital, Sprig also welcomed new investors Sozo-Truebridge, Lumia Capital, IDG Ventures, CAA Ventures, Fabrice Grinda, Sam Kass, Jed York, Marc Lasry, Karen Francis, Stewart Butterfield, Brian Spaly, Mark Ayzenshtat, Bryan Goldberg, and Amitt Mahajan.
Sprig, an on-demand meal service, is headquartered in San Francisco, California.
