With the addition of two new production
facilities in Oregon and
Iowa, ByHeart is now positioned to triple its supply capacity
to support families nationwide
NEW
YORK, May 13, 2024 /PRNewswire/
-- ByHeart, the next-generation infant nutrition
company, today announced it has secured $95M in additional financing to support the
continued US commercial launch and development of its innovation
pipeline. To date, ByHeart has raised a total of $395M from investors including D1 Capital
Partners, Bellco Capital, Polaris Partners, Two River, OCV
Partners, AF Ventures, Red Sea Ventures, Gaingels and more.
The company also announced the completion of its full end-to-end
domestic manufacturing chain, with new manufacturing facilities in
Portland, OR, and Allerton, IA, enabling the brand to expand
production of its breakthrough formula to meet the needs of 15% of
the addressable market.
"ByHeart's foundation was built on a culture of
innovation—incorporating clinical trials, highest quality
ingredients, advanced nutrition science and a proprietary
recipe—from day one," said Ron Belldegrun, CEO and Co-Founder of
ByHeart. "We are committed to doing better for babies and their
parents, and that means continued investments into end-to-end
manufacturing, scientific advancement and meaningful innovation in
an industry that so desperately needed it."
"Polaris is delighted to continue to support the expansion of
ByHeart's infant-first mission," said Amy Schulman, ByHeart's Chair of the Board and
Managing Partner at Polaris Partners. "In the long-stagnant
infant formula space, ByHeart's evidence-based approach drives
innovation to benefit the health and wellness of babies and
families. Our investors and team recognize the responsibility we
have to provide the highest standard of nutrition, crafted with
scientific precision and the utmost care."
ByHeart is a three-time Clean Label Project Certified brand and
the only new infant formula company to open two new domestic
facilities since the national infant formula shortage, helping to
proactively fortify the country's fragile infant nutrition supply
chain and mitigate the risk of future formula shortages. While the
majority of new U.S. formula brands rely on external parties to
complete steps in the production process, ByHeart's end-to-end
manufacturing allows for full control, ensuring all aspects of
production are held to the company's rigorous quality
standards.
Utilizing the latest in breast milk science, ByHeart brings
babies clinically proven1 benefits like
easier digestion, less spit up, softer poops, more efficient weight
gain and enhanced nutrient absorption, and empowers parents to feel
confident about their feeding decisions. ByHeart ran the largest
clinical trial by a new infant formula brand in 25 years, and was
the first to add a comparison to breast milk. ByHeart's pioneering
clinical research has garnered widespread recognition, with its
results being published in the esteemed scientific and medical
journal, the Journal of Pediatric Gastroenterology and
Nutrition.
The company is rapidly expanding and most recently launched in
Thrive Market, the healthy and sustainable online grocer.
Thrive Market carefully selected ByHeart as a partner in its
mission to provide families with the top healthy food brands and
natural products. ByHeart is the only infant formula to incorporate
breakthrough benefits for babies backed by clinical trials while
also meeting Thrive Market's high quality standards. Its presence
on the site underscores the grocer's commitment to supporting
brands that prioritize health, sustainability and transparency. By
the end of 2024, ByHeart will expand to several additional
retailers, making its clean, science-backed recipe easily available
to parents everywhere.
In addition to Thrive Market, ByHeart is currently available
direct-to-consumer at byheart.com and at Target nationwide in store
and online. With a steadfast commitment to gold-standard nutrition,
ByHeart proudly brings its formula to more babies across the
nation.
For more information, please visit
https://byheart.com.
About ByHeart
Founded in 2016 and based in
New York City with manufacturing
facilities in Pennsylvania,
Oregon, and Iowa, ByHeart is an infant nutrition company
dedicated to empowering parents with choices for a better feeding
future. It is only one of five fully integrated, FDA-registered
infant formula brands in the country, and ByHeart facilities are
driven by nutritional excellence and a farm-to-formula verified™
quality program. For more information on ByHeart, visit
https://byheart.com/.
1 Compared to a leading infant
formula
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