Spiceology, named the fastest growing spice company in America by Inc. 5000 for three years running, today announced the closing of a $7 million equity fundraising led by San Francisco investor Jackson Square Ventures (JSV). JSV specializes in early stage investments in SaaS, enterprise software and marketplace companies; their investment in Spiceology marks the company’s first addition of a consumer packaged goods (CPG) brand to their portfolio.
Spiceology has built its brand and strong reputation with chefs and consumers through a focus on quality, innovation and sustainability. The company started selling products in local farmers’ markets and has grown into a beloved brand sold around the globe, from Dubai to Perth, Australia.
“Challenger brands that disrupt industries share a few common attributes: a distinctive, authentic brand; a product that customers love and are passionate about; and the ability to engage and create a community,” said Pete Solvik, Founding Partner and Managing Director at JSV. “Spiceology has thoughtfully transformed a perceived commodity into an active community that people want to be a part of. We are proud to partner with Chip and team as they build Spiceology into a next generation beloved CPG brand.”
JSV’s portfolio includes notable software standouts DocuSign, Upwork, OfferUp, Seismic and Strava -- companies that solve everyday challenges for consumers and businesses very simply -- the same ethos shared by Spiceology in helping chefs and consumers easily bring fresh, innovative flavors to their respective tables.
Chef-founded in 2013, Spiceology has expanded into an omnichannel business with fast-growing segments in foodservice, direct-to-consumer, retail and grocery.
“Younger generations want something different - something authentic, high quality and innovative that enables them to enjoy every meal,” said Chip Overstreet, CEO of Spiceology. “There’s nothing more rewarding than hearing from customers that Spiceology has changed their lives, that they’re having fun with food, experiencing never-before-tasted flavors and looking forward to every meal. We’re building a flavor community and the fresh capital and partnership with JSV will help us get out to even more consumers and chefs to inspire generations to experiment with flavor.”
With more than 400 ingredients and innovative blends like Smoky Honey Habanero, Raspberry Chipotle, Black & Bleu, and Maui Wowee at the heart of the brand, Spiceology also routinely collaborates with notable brands and culinary experts, including New Belgium Brewing, Derek Wolf and Chef Jet Tila.
For more information, visit spiceology.com.
Founded in 2013, Spiceology is the fastest-growing spice company in America and is on a mission to bring the magic back to spices, the world’s first currency. The chef-owned and operated, one-stop spice shop develops innovative blends and offers over 400 ingredients that are ground fresh in small-batches and shipped fresh to consumers and chefs. Spiceology’s “experiment with flavor” ethos is not only embraced through excellent ingredients and unique combinations, but also through responsible business practices designed to create a better world with diversity, equity and inclusion at the heart of the workforce. Spiceology products can be found on spiceology.com, in specialty retailers and grocers, in restaurants around the US, and as far away as Australia and Dubai. Visit spiceology.com for more information or to place an order, or follow Spiceology on Facebook and Instagram. For recipe inspiration, visit here.