SkinnyDipped, the disruptive snack brand known for its health-conscious and delectable offerings, has successfully closed a $12 million Series A funding round in August 2023. Spearheaded by Miami-based entrepreneur David Grutman, this investment round marks a pivotal moment for the brand, setting the stage for exponential growth and innovation. Unique in its structure, the funding comprises individual investors rather than a special-purpose vehicle, signaling strong cross-industry support for the brand.
The Founders: A Mother-Daughter Powerhouse
Founded by the dynamic mother-daughter duo of Breezy and Val Griffith, SkinnyDipped has redefined the snacking landscape. Breezy Griffith, the CEO, expressed her gratitude for the overwhelming support, stating, "Our eclectic and diverse portfolio of investors blows my mind—from A-list artists to uber-athletes. Working in partnership with David Grutman, an SD superfan, has been a total joy."
A Star-Studded Investment Round
The Series A round attracted a diverse array of globally recognized investors, including Alesso, Kevin Durant, Steve Aoki, and many more. David Grutman, who led the round, praised the SkinnyDipped team: "What they've created is amazing. They make the best snacks ever, and I'm excited for what these investors and I are about to do together."
Strategic Expansion and Retail Partnerships
This funding comes at a crucial time as SkinnyDipped expands its retail presence, adding new partners like Costco and Publix to its existing collaborations with Target and Kroger. The investment will fuel ongoing retail expansion, philanthropic initiatives, and product innovation, as the brand prepares to venture into new market segments.
Disrupting the Snack Category
SkinnyDipped has been a game-changer in the consumer packaged goods sector, pioneering the concept of thin-dipped nuts and reimagining snacking by reducing sugar content without compromising flavor. Their unique products, such as Lemon Bliss Almonds and Dark Chocolate Peanut Butter Cups, have become consumer favorites, offering a guilt-free yet indulgent snacking experience.
Accolades and Recognition
Since its launch in 2016, SkinnyDipped has garnered numerous awards, including multiple placements on the Inc. 5000 ranking. Val Griffith, the brand's Chief Innovation Officer and the creative genius behind its flavors, was recently named to Forbes' 50 Over 50 List for 2023, further solidifying the brand's reputation for innovation.
Future Outlook
With the Series A funding, SkinnyDipped is poised for an unprecedented rise in market share, exposure, and recognition. The brand is currently available in over 25,000 retail locations nationwide and shows no signs of slowing down.
The $12 million Series A funding round is more than just a financial milestone for SkinnyDipped; it's a testament to the brand's vision, innovation, and the strong consumer, industry, and investor sentiment that backs it. For investors, corporations, and NGOs looking to align with brands that are not just market leaders but also category disruptors, SkinnyDipped offers a compelling investment and partnership opportunity.