USA – American producer of organic ghee, 4th& Heart has closed US$7.6 million in Series C funding round led by leading growth-equity investment firm, Harbinger Ventures.
Also participating investors include Cambridge Companies SPG, Blueberry Ventures and Boulder Food Group.
The company said the funding round will enable it boost innovation and distribution channels as it looks to expand its line of products featuring grass-fed ghee or clarified butter.
It also targets to enhance the brand’s reach in various markets and reinforcing its status as a household name.
“We are thrilled to have found such an influential group of partners that share our passion and align with the mission of 4th & Heart,” said Raquel Tavares, Founder and CEO of 4th & Heart.
“Our work with Harbinger Ventures and our other investors will help to grow our brand and innovate new products for the growing audience of health-conscious consumers attracted to flavorful better-for-you alternative cooking essentials and snacks.”
Founded in 2015, the California-based artisanal food brand is popular for its gourmet flavored line of products featuring grass-fed ghee.
With the capital, the company will expand availability of its products including clarified butter spreads in Target stores, marking its first expansion into mass retail.
The products will also be available in SuperTarget and PFresh stores nationwide this September.
It will also add its flavored hybrid ghee pourable oils and sprays to Sprouts’ stores as well as pourable ghee oils, turmeric ghee and Chocti which will be made available in Whole Foods.
“4th & Heart is a trailblazer in the superfood category, and we couldn’t be more excited to be involved in the next phase of the brand’s growth,” said Megan Bent, Founder and Managing Partner of Harbinger Ventures.
“Raquel and her team are driven not only by their strong vision for their own brand, but by their deep understanding of their target consumer, and we look forward to supporting their ongoing mission to deliver the best possible alternative options to that consumer, whether in the kitchen or on the go.”
The company offers 21 skus of ghee butter spreads, oils and chocolate spreads.