PROPER GOOD, an Austin-based e-commerce startup previously seen on ABC’s Shark Tank, is proving to be the next big thing in direct-to-consumer food brands. After a recent funding raise, the company now has backing from consumer-focused venture capital firms and angel investors.
On Tuesday, PROPER GOOD secured $3.5 million in a seed round co-led by YETI Capital and The Artisan Group.
Co-founded by siblings Jennifer and Christopher Jane, PROPER GOOD makes ready-to-eat healthy meals — such as oatmeals, soups, chilis and curries — that are shelf stable and take 90 seconds to cook in a microwave. Its meals are also developed to fit multiple dietary needs with options ranging from Keto-friendly and plant-based to gluten-free and dairy-free.
The Janes said they will use the new capital to launch their brand into Walmart retail stores, with plans to have its products in over 2,000 Walmart Supercenter locations. Part of the funding will also be used to develop new products.
“Consumers are increasingly looking for nutritious meals that are ready to eat, and made with delicious and clean ingredients,” Jennifer and Christopher Jane said in a statement. “We’re thrilled to expand the availability of our high-quality products catering to different lifestyles and dietary preferences to Walmart with support from our roster of stellar entrepreneurs and investors.”
PROPER GOOD has been selling its meals directly to consumers since launching in 2020 and has thrived doing so. Customers buy the meals directly from PROPER GOOD’s website and can buy individual units or a pack of six. According to the company, it has sold over 500,000 meals in its first two years and grown its revenue by 400 percent.
“PROPER GOOD is a brand grounded in quality and innovation that is ready to disrupt. The combination of a talented team with a brand and product offering that has mass appeal has positioned the business to scale quickly across multiple channels,” Drew Zang, managing partner at The Artisan Group, said in a statement. “We are excited to have him as a partner and we look forward to unlocking the potential based on the foundation the team has built.”
