Kate Farms Completes $51M Series B

Kate Farms, the market leader bringing plant-based nutrition into healthcare, is pleased to announce the completion of its Series B round of funding, led by Goldman Sachs with additional participation from Kaiser Permanente Ventures and existing individual investors, for a raise of $51 million.

Kate Farms produces plant-based, organic, clinically proven formulas for tube feeding to help nourish those with chronic illnesses. The company also produces nutrition shakes consumed orally for people with shorter-term or milder conditions that don't require tube feeding. Made without major allergens, the product portfolio is USDA Organic-certified, vegan, gluten-free and kosher, and is accessible in more than 95% of U.S. hospitals.

Kate Farms was founded when a little girl named Kate Laver was failing to thrive because she couldn't tolerate any of the available tube feeding formulas. Her determined parents, Richard and Michelle, had the transformative idea to develop a better formula: use the highest-quality organic plant-based ingredients without the allergens found in other formulas. Today Kate is thriving, and healthcare professionals, caregivers and people with medical conditions are driving a movement to demand better nutrition.

Used for tube and oral feeding, Kate Farms is eligible for insurance coverage by Medicare, Medicaid and more than 2,000 private insurance plans and a growing number of WIC1programs.Kate Farms formulas are on formulary with many leading children's and adult hospital systems across the country and are available to more than 95% of U.S. hospitals. Free of common allergens and clinically proven, Kate Farms formulas and nutrition shakes are made of easily digested organic pea protein, prebiotic soluble fiber from organic agave inulin and a clinically effective phytonutrient blend that provides antioxidants. Kate Farms flows easily through a feeding tube and is also used orally because of its great taste. Kate Farms tastes great and is also available at www.katefarms.com.