Recipe kit delivery service HelloFresh has pulled in a whopping $50m financing round just eight months after securing its $7.5m Series C round.
Insight Venture Partners led the Series D round, which is more than double the $20m the company had collected across its previous investment rounds since its creation in January 2012.
The company’s service allows customers to choose a recipe from its website and have all the ingredients delivered in a box directly to their door.
HelloFresh said it recently reached profitability in its core European market and now ships more than one million meals per month to its customer base. It has been cash-generative for all of 2014.
Insight managing director Jeff Lieberman said, “Grocery shopping is time-consuming and routine. HelloFresh has introduced a new way of shopping for fresh produce and creating nutritious home-cooked meals.
“We believe that the company is rapidly becoming a global online market leader in the food delivery industry and we’re pleased to partner with them as they execute their growth strategy.”
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