SnackNation, a Los Angeles-based startup, which delivers boxes of healthy snacks to homes and offices, recently announced that it secured $12 million in Series B funding. The investment was led by 3L Capital, which pushed the company’s venture funding total to $22.5 million.
“We are the authority when it comes to discovering emerging and innovative snack food brands,” SnackNation CEO Sean Kelly told FOX Business’ Dagen McDowell on “Mornings with Maria.”
Rosecliff Ventures CEO Mike Murphy, whose firm is invested in SnackNation, praised the snack delivery service and “loved” how they are able to collect data on its products.
The company’s direct relationship with consumers has enabled it to collect data on the snacks placed in the boxes. They then sell that data to their suppliers. According to SnackNation’s website, 1,500 brands have provided the company with over 5,000 different snacking options.
“We collect consumer insights and data that we feed back to the brands so they can better understand their customer and therefore improve their products,” he said.
The snack distributor also uses the analytic data to help them determine which emerging brands are going to break out in popularity.
“We also use all of that data to determine what emerging brands are going to win tomorrow. So we have a little bit of a predictive analytics engine that gives us a leg up in the industry,” he said.
Kelly said that even though the company’s focus is on snacks, the company is looking to expand its platform.
“We’re already starting to plug health and beauty items and other items through our consumer insights funnel.”