TemperPack manufactures sustainable thermal insulation for cold chain packaging, centered on its patented ClimaCell thermal liners. ClimaCell is a recyclable, non-toxic alternative to expanded polystyrene (EPS) used to ship perishable foods, pharmaceuticals, and life-science products. The company says its materials protect millions of shipments every month and has experienced rapid growth driven by strong demand. TemperPack intends to use new funding to expand capacity for protective materials technologies, grow its geographic footprint, and extend customer reach. The $140 million equity financing strengthens its financial position to scale sustainable, high-performance protective materials. TemperPack was founded in 2015 and is based in Richmond, Va. TemperPack produces sustainable insulated packaging aimed at perishable last-mile e-commerce, with its flagship ClimaCell® thermal liner marketed as a curbside recyclable alternative to expanded polystyrene foam. Its customers include meal kit, frozen foods, and life science companies. The company emphasizes environmental benefits and performance parity with plastic foam. Prominent investors in TemperPack include Revolution Growth, Wheatsheaf Group, SJF Ventures, Arborview Capital, and Harbert Growth Partners. TemperPack intends to use financing to accelerate growth and expand customer service. Management stated the company will deploy proceeds to support growth and general working capital needs. TemperPack’s core product is ClimaCell, a patented, plant-based thermal liner that provides protection comparable to expanded polystyrene (EPS) while being 100% curbside recyclable and reducing carbon emissions. The company focuses on thermal packaging for direct-to-consumer food and life-sciences shipments and has expanded capabilities to ship insulin, diagnostic test kits and biologic medicines. TemperPack was founded in 2015 and operates facilities in Richmond, Virginia and Las Vegas; it reports about 220 employees and plans to add roughly 80 more over the next 12 months. Recent customer additions include Illumina and UPS Healthcare. The company says demand accelerated during the COVID-19 pandemic as customers doubled down on replacing Styrofoam with sustainable alternatives. TemperPack intends to use new funding to buy equipment, boost manufacturing capacity in Richmond and Las Vegas, increase market share in food and life sciences, and pursue expansion into Europe with a facility in a few years. TemperPack develops ClimaCell recyclable packaging for temperature-sensitive items such as food and medicine. The company positions its product as an alternative to landfill-bound packaging materials commonly used in e-commerce. In September it expanded a production facility in Las Vegas, a move the company said would create 33 new jobs in Nevada. Customers named in the article include HelloFresh, Misfit Markets, Diplomat Pharmacy and OptionOne Pharmacy. TemperPack has raised roughly $40 million since its 2015 founding, most recently reporting $13 million in new equity funding and other securities. The company was founded by James McGoff, Brian Powers and Charles Vincent and is based in Richmond. TemperPack engineers, manufactures and distributes sustainable thermal packaging products that replace single-use plastics with proprietary bio-based materials. The company designs and tests products in its Proving Ground laboratory to meet client specifications for applications ranging from fresh food delivery to shipment of biologic drugs. TemperPack operates two factories in Virginia and Nevada. Founded in 2015 and headquartered in Richmond, Virginia, it is expanding its reach in food and life-science cold chain logistics markets. In October 2019 it raised $22.5M in a Series B to support that expansion. Its stated goal is to reduce the amount of packaging that ends up in landfills.

Total raised

$251M

Funding rounds

7

Latest round

Equity

Latest activity

Mar 2022