SmartyPants Vitamins, a leader in nutrient-dense gummy supplements, announced that it has closed a $2.2 million second round of financing via CircleUp, a leading marketplace for investors and non-technology entrepreneurs, bringing its raise total to $4.7 million. The funds are being used to further accelerate SmartyPants growth strategy including key hires and new products.
Since it opened its doors in 2010, SmartyPants has quickly emerged as a key player in the consumer packaged goods (CPG) nutrition industry with most recent year-over-year first quarter sales climbing 181 percent. The company offers a line of premium all-in-one gummy multivitamins with D3 and Omega 3 in one delicious serving for adults and kids alike.
"The $4.7 million we’ve raised on the CircleUp platform brings a new level of credibility and momentum to the SmartyPants brand,” said Gordon Gould, co-CEO and co-founder of SmartyPants. "CircleUp has made it possible to achieve our aggressive growth goals. By leveraging the CircleUp platform we have also increased our visibility in the CPG nutrition and technology markets, and connected with potential future investors, partners and key advisors we may not have met otherwise.”
CircleUp’s platform connected SmartyPants to a pool of investors and deep industry knowledge, which effectively reduced the total amount of time needed to raise the round. The company’s pool of investors also complemented the strategic angel investors SmartyPants proactively recruited to participate in the round.
"The $4.7 million raised overall by SmartyPants marks one of the largest raise totals to date, and first follow-on round, for CircleUp," said Ryan Caldbeck, CEO and co-founder of CircleUp. “It's a testament to the quality of the SmartyPants brand, as well as the power of the CircleUp platform.”