Funk Ventures Capital Partners announces its investment in organic food services company Organic To Go
Canoga Park, CA (PRWEB) October 17, 2005 -- Funk Ventures Capital Partners (“FVCP”), the venture capital arm of Funk Ventures, announced today that it has invested in Organic Holding Company, Inc. ("Organic To Go"), a fast-growing organic food services company with retail and delivery operations and currently 12 locations in Seattle, Los Angeles and Orange County.
Organic To Go brings together high quality and healthy ingredients from all over the United States to create great tasting, ready-to-enjoy meals that can easily be picked up or delivered. The company's aggressive pursuit of the relatively untapped office lunch delivery market has already proven itself popular and profitable, with plans on expanding into additional markets across the United States. The company's core business model calls for targeting the corporate breakfast and lunch delivery market. This out-of-the box marketing strategy has propelled Organic To Go as the fast casual leader in Seattle in a mere eight months.
"Our venture capital unit continues to position itself at the forefront of the wellness investment arena", says Andy J. Funk, CEO of Funk Ventures and Managing Director of FVCP. "The organic foods sector is of significant interest to us, and Organic To Go is yet another example of our dedication to continue to make meaningful and impactful investments in the wellness industry."
Organic To Go raised $2.5 million in new capital in this Series B round, with a total of $5.5 million raised in 2005.
The Series B funding will be used primarily to accelerate Organic To Go's expansion in California and Washington. Based in Seattle, Washington, the company currently operates six locations in Washington and recently opened three Los Angeles area and three Orange County area stores.
About Funk Ventures:
Funk Ventures is a multi-faceted investment firm headquartered in Los Angeles, California. The firm’s diversified business segments span from venture capital to investment banking and real estate. The firm’s venture capital arm, which makes value-add investments in promising companies in the wellness space, is complemented by an investment banking unit which provides access to outside capital to private and emerging companies. Funk Ventures is also actively involved in developing and investing in real estate, with a focus on resort destinations and sustainable living communities. For more information, visit www.funkventures.com or call (818) 716-0413. Funk Ventures is a registered trademark of Funk Ventures, Inc.
About Organic to Go:
Formed in November 2004, Organic Holding Company is a retail store, caterer and meal delivery service that provides delicious and natural soups, salads, sandwiches and entrees packaged for convenient take-out or delivery. All O To Go fare is made with organic ingredients whenever possible and is always natural, wholesome and free of harmful chemicals and grown and raised with care. Organic to Go brings similar pricing and delivery services as other box lunch retailers and cafes, even though its ingredients are typically more costly to produce. For more information, visit www.organictogo.com or call 425-890-9183.
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