Greenwich-based GoodSAM Foods, a healthy food company that focuses on regenerative agriculture, has announced a $9 million Series A funding round.
GoodSAM sources its fruits, nuts, cacao and coffee from farms in nine countries, including Colombia, Mexico and Kenya. It has direct partnerships with farmers in those countries, which eliminates middlemen from its supply chain.
GoodSAM is raising capital to expand its workforce, launch new products and continue direct trade support for farmers, according to the announcement.
The round was led by Alive Ventures in Bogotá, Colombia and Desert Bloom in the U.S., with additional participation from LATAM Impact Fund (Sonen Capital & Fondo de Fondos, MX), Promotora Social Mexico, One Small Planet (Peterffy Family Foundation) and Connecticut Innovations.
“With this funding, the company is well-positioned to scale its impact while reinforcing the business case for regenerative agriculture and transparent trade,” the announcement states.
GoodSAM was founded in 2019 by natural products industry veteran Heather K. Terry, who is also the CEO.
“Raising capital in the last two years has been extremely challenging and statistically, for women, it’s been nearly impossible,” Terry said. “To have LATAM (Latin American) investors step up to support our vision as an American company, with the majority of our supply network in LATAM, has been humbling and deeply moving.”
With this funding, GoodSAM has raised a total of $10.5 million, including previous investments from entities such as Thrive Market, JellyShot, Cynthia Tice, the founder of Lily’s Sweets, and BeyondBrands.
GoodSAM’s products, which include organic nuts, chocolate, coffee and fruit chips, are available nationwide at specialty retailers and at Whole Foods.
