BOULDER, COLO. — Quinn, a maker of microwave popcorn and gluten-free pretzels, has completed a $10 million Series B round of funding led by NewRoad Capital Partners. The round included a follow-on investment from Boulder Food Group, Echo Capital and Sunil Thakor.
The company plans to use the funding to support growth, product innovation and sustainability initiatives centered around regenerative agriculture. Michele Meyer, operating partner at NewRoad Capital and former president of the Small Planet Foods operating unit at General Mills, Inc., will join the board of directors.
“Successful brands require authenticity and a penchant for innovation,” Ms. Meyer said. “Quinn has exhibited both to the highest degree. We believe in Quinn’s mission to provide better transparency to their customers, better ingredients in their products, and a better taste profile than its competition. Quinn is really changing the game in snacks and we couldn’t be more excited to help them on their next chapter of growth.”
Founded in 2010, Quinn promotes “farm-to-bag” ingredient transparency for its snacks that are sold in more than 10,000 retail stores nationwide. Last year, the company expanded into Walmart stores and increased distribution in Whole Foods Market, Kroger and Wegmans. The company saw additional growth through partnerships with online retailers Thrive Market, Hungryroot and Imperfect Foods. The company has achieved 60% growth in revenue year over year since 2019.
“For the past 10 years, I have been on a mission to revolutionize food by telling people exactly where their food comes from, supporting our ag partners, and making better-for-you snacks for people and their families,” said Kristy Lewis, founder and chief executive officer of Quinn. “NewRoad completely understands our vision to be a force of good in the snack aisle. We are thrilled to have the support of a group that truly values our mission to be and do better.”
Quinn closed a Series D funding round last fall, raising $3 million from its board of directors and existing investors, plus an undisclosed minority investment by The Hershey Co. Steve Voskuil, chief financial officer of The Hershey Co., said Quinn shared Hershey’s commitment to sustainable business practices, inclusivity and transparency.