SnackNation raises $12m in Series B funding

US-based snack delivery service provider SnackNation has secured $12m as part of a series B funding round led by investment firm 3L Capital.

SnackNation’s total venture funding has reached $22.5m as a result of the latest financing round.

The company is set to use the funds to expand its existing enterprise network, as well as establish new distribution channels such as hospitality and transportation.

SnackNation was established in 2014 and primarily offers healthy snack options to its customers, which include offices and homes located across the US.

SnackNation CEO Sean Kelly said: “At SnackNation, we’re creating a 21st-century retailer by connecting today’s top emerging CPG brands with consumers during their most engaged moments.

“With retail shelf space shrinking and people spending less time in brick-and-mortar grocery stores, creating new brand-consumer access points, especially with ‘better-for-you’ products, is essential.

“We are fired-up to be working with 3L Capital to create a world where everyone has access to healthier snacks and drinks at work and at home.”

Additionally, the snack delivery service provider intends to expand its direct-to-consumer (at-home) business and bolster its position as the go-to marketplace for emerging CPG brands.

3L Capital is based in Los Angeles and New York and focuses on expansion-stage investments in the technology, media and consumer sectors.

3L Capital founding partner Dave Leyrer said: “SnackNation is a smart marketplace and unquestionably the leader in providing better-for-you snacks to the workplace and home.

“Not only is SnackNation feeding the very best snacks to workers and consumers nationwide, but it’s also providing unparalleled market research for all players in the food and beverage industry that’s going through unprecedented disruption.”