Stryve Biltong has announced a $16.5 million Series B investment led by Meaningful Partners, Pendyne Capital and Murano Group.
With this Series B funding Stryve Biltong will be increasing marketing investment to drive education, awareness and trial, and will continue investing in talent and operations.
Based in Plano, Texas, Stryve Biltong was founded by former NFL first-round draft pick Gabe Carimi and sports nutrition experts Ted Casey (founder of Dymatize) and Joe Oblas (founder of ProSupps) to provide a snack that has no sugar and high levels of protein.
“The past year has shown that there is a huge demand for clean protein snacks in the U.S., and we have assembled an experienced team of brand builders to help us shape the future of meat snacks and clean protein snacking with Stryve Biltong,” said Casey, who serves as chairman of the board. “We have an aligned strategy for growth and are rapidly moving to put all the pieces in place to achieve it.”
In addition to Series B funding, Stryve Biltong has added new leadership to both its board and executive leadership team. Jaxie Alt, 18-year CPG veteran from Dr Pepper Snapple Group, joined as CMO in March, and Peter Rahal, founder of RX bar, has joined the board of directors.
“Stryve is at a really exciting place in its development,” Rahal said. “And I look forward to bringing my experiences in CPG to the table to help accelerate the brand’s growth.”
Since its launch in 2017, Stryve Biltong has achieved distribution across all channels of retail and rapidly growing its online business.