Daily Crunch closes $4M Series A funding round

The round was led by seasoned operator and industry investors.

Daily Crunch closes $4 million Series A funding round

Courtesy of Daily Crunch

Daily Crunch, the crunchy brand renowned for its sprouted trail mix and nut snacks that satisfies crunch cravings the clean, nourishing way, has successfully closed $4 million in a Series A funding round. This capital raise, led by Nashville-based firm Launch Tennessee represents a major milestone for the company as it expands from a beloved direct-to-consumer brand to a red-hot addition to retailers’ snack aisles.

Already the #1 sprouted nut brand in the U.S. with about 16,500 points of retail distribution nationwide, Daily Crunch is set to build on its early success and enter a new phase of expansion and innovation. The company, which was founded in 2020 by the aunt-niece duo Diane and Laurel Orley along with seasoned entrepreneur Dan Stephenson, aims to bring Diane’s patented sprouting process, which she learned in India over 20 years ago, to the mainstream American market.

This Series A round is notable for its diverse investor composition featuring a non-CPG lead: Launch Tennessee, a 501c3 that provides entrepreneurs capital and connections. A variety of founders and strategic individuals also joined the round, which will fuel continued growth, innovation and marketing efforts for the company that grew from a pandemic-era startup to a major player in snacking with distribution at Target, Meijer, Erewhon, CVS, airports, hotel snack bars and office break rooms. This round leaned into Daily Crunch being a Women Owned certified company, where a majority of their investors are women. Daily Crunch emphasizes their unique texture, which is notably crunchier than raw or roasted nuts due to their soak-sprouted-dehydrate process. This approach differentiates them in what they describe as a massive, multi-billion dollar "trusty but dusty" nut snack category.

"We are thrilled to support Daily Crunch’s continued growth,” says Eller Kelliher, chief investment officer at Launch Tennessee, which was also involved in Daily Crunch’s seed round. “Over the last few years, we have witnessed their transformation from a promising startup to a rapidly expanding presence in the snack industry. Laurel and Dan's success in raising this round is a testament to their leadership, dedication to a unique product, and the future potential of Daily Crunch as a leading CPG brand.”

During this fundraise, Daily Crunch formed a board of directors and collaborated with the acclaimed Women on Boards Project to appoint veteran CPG leader Nancy Pak to the board. Pak, who served as CEO of Tate's Bake Shop and president of North America Ventures for Mondelēz International, brings valuable experience to the team in addition to two other independent board directors, Steve Barr, who previously led PwC’s Global and U.S. Consumer Markets practice, and Matt Jonna, co-founder and CEO of Plum Market.

In addition to revolutionizing the stagnant nut snack category, Daily Crunch is committed to industry-leading sustainability practices and investing in organizations that support holistic human health, because what someone eats impacts how they feel. The company sources its almonds from a bee-friendly farm known for its sustainable practices and uses post-consumer recycled bags. It is also the 78th brand to achieve Upcycled Certification. Additionally, Daily Crunch partners with The Support Network, which promotes student mental health and well-being on high school and college campuses.

Daily Crunch has quickly established itself in the nut snack category and earned several accolades, including a prominent spot on Inc.'s annual list of America's fastest-growing private companies, the Inc. 5000. The leadership team includes Laurel Orley, with her background at Unilever in media working on brands like the Dove Campaign for Real Beauty, COO Dan Stephenson, a second time food founder, and Head of Marketing Kenzie Steel.

“Our team is everything. They’ve been with us since day one. Starting with a team-first approach drives our creativity and passion to keep moving forward into our Series A and beyond,” said co-founder Laurel Orley.

“We are extremely excited for the next chapter of Daily Crunch. This raise ushers in some incredible investors and board members, as well as giving us the flexibility to bring on some highly talented people to our growing team. The capital will enable us to build awareness plus expand our distribution and as we strive toward our goal of being a Uniquely Crunchy snack in every pantry in America,” said Stephenson.

This webinar will examine variables factoring into nutritionally improved candy sales, including ingredients, label claims, and alternative sugars. Better-for-you options remain top of mind for consumers who are searching for indulgences, but in a healthier format.