SkinnyDipped closes $12 million investment round
Image: SkinnyDipped
SkinnyDipped, the brand devoted to better-for-you snacks, has raised $12,000,000 in a Series A round that closed in August, 2023. Led by the Miami-based entrepreneur David Grutman, the multi-pact partnership is set to propel the brand – founded by the mother-daughter duo of Breezy and Val Griffith – into a new era of expansion, innovation and success.
This Series A, which reached capacity earlier than expected, is unique in that it is composed of individual investors as opposed to being funded by a special purpose vehicle, which would see investors pooling into a single funding entity. Dozens of individual investors contributed, with globally recognized participants including Alesso, Kevin Durant, Kaskade, Steve Aoki, Marshmello, Sebastian Ingrosso, Shep Gordon, Mack Maine, Bruno Soares, Rebeca León, Two Friends, Isabela Grutman, Ryan Tedder, Loren Ridinger, Sal XO, Joel McHale, Gary Brecka, Charissa Davidovici, Guy Oseary, Rich Kleinman, Mo Shalizi, Zepito and others.
“Our journey to this milestone has been challenging, energizing and full of passion from all involved,” says Breezy Griffith, CEO and Founder, SkinnyDipped. “But the real gift has been my discovery of just how much consumer, industry and investor sentiment exists for SkinnyDipped, for which I’m so grateful and proud. Our eclectic and diverse portfolio of investors blows my mind – from A-list artists to uber-athletes – there’s just this crazy love for the brand across the board. And to work in partnership with SD superfan David Grutman, who brings his creativity, enthusiasm and unstoppable drive to SkinnyDipped, is a total joy.”
“I am really impressed by what Breezy and Val and the SkinnyDipped team have achieved,” says David Grutman, Entrepreneur. “What they’ve created is amazing. They make the best snacks ever, first of all, and they continue to impress me with all sides of the business. I’m excited to lead this round, and I’m even more excited for what these investors and I are about to do together.”
This strategic investment round not only underscores SkinnyDipped’s national success, but also arrives in tandem with extensions into new retailers such as Costco and Publix, on top of existing partners such as Target, Kroger and others. The funding will be used to continue ongoing retail expansion, support philanthropic efforts and drive innovation as the brand readies itself to move into new and exciting spaces over the coming months. Category disruption is a SkinnyDipped specialty, as the company was the first to bring thin-dipped nuts to market: they reimagined what it means to snack, by scaling back feelings of guilty indulgence and amping up a health-forward sentiment of happiness. SkinnyDipped’s proprietary and unique products – including game-changers like Lemon Bliss Almonds, Unicorn Birthday Cake Cashews and Dark Chocolate Peanut Butter Cups – have become popular go-to snacks on account of their combined lower sugar content and irresistible flavor.
SkinnyDipped, a proven favorite in the consumer packaged goods sector, now stands poised for an unprecedented rise in exposure, recognition, and broadened market share. Launched in 2016, SkinnyDipped is currently available in over 25,000 retail doors nationwide. SkinnyDipped has won numerous awards, including placement on the Inc. 5000 ranking for multiple years running and Val Griffith being named to Forbes’ 50 Over 50 List 2023 for her inventive and creative prowess (Val’s role within the company is Chief Innovation Officer – she’s the flavor specialist, affectionately referred to as “Mama Nut”).
For more information, please visit www.skinnydipped.comand follow @SkinnyDipped on Instagram and TikTok @SkinnyDipped.