Founded in 2009 by Elizabeth Stein, Purely Elizabeth builds better-for-you breakfast products and is best known for its granola. The company expanded from an initial blueberry muffin mix into granola, pancake/waffle mixes and oatmeal using non-GMO ingredients like ancient grains, coconut sugar, probiotics and MCT oil. Over the last five years the business grew at a 55% compound annual growth rate and was in 15,000 retailer doors at the end of 2021, up from 8,000 in 2018. The company currently has a team of about 30 and plans to grow to roughly 40 by the end of 2022. Purely Elizabeth will use new capital to invest in product innovation, launch into a new category with its oatmeal later this year, debut a brand refresh and lean into digital marketing to build awareness. Purely Elizabeth, founded in 2009 by Elizabeth Stein, develops nutrient-dense granola, oatmeal, muesli and cereal. Its products are certified gluten-free, vegan, organic, non-GMO project-verified and are free of artificial flavors, colors, sweeteners, or preservatives. Product lines include Ancient Grain, Grain-Free and Probiotic Granolas, Ancient Grain Muesli, Oatmeal and Cereal, sold in multiple pouch sizes and cups. The products are carried by retailers such as Whole Foods Market, Target and Publix, and available on the company website. The company received a $3M minority investment from 301 INC (General Mills’ new business development and venturing unit) to continue new product development and accelerate brand growth in natural and conventional grocery channels. This summer the company plans to launch a line of mushroom-powered wellness bars in five flavors.

Total raised

$53M

Funding rounds

2

Latest round

Series B

Latest activity

Jan 2022