ByHeart was founded in 2016 by Ron Belldegrun and Mia Funt. The company has not officially endorsed a plan to participate in an IPO. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
ByHeart is a small-batch infant formula company whose products are made with hand-picked and nutritious ingredients. In March 2022, the company received FDA approval and began shipping formula, becoming the first infant nutrition brand to be FDA-registered in the U.S. in decades. The company has raised more $160 million in venture capital funding from investors including D1 Capital Partners, OCV Partners, Polaris Partners, Bellco Capital, Two River Ventures, Red Sea Ventures, and AF Venturesand Gaingels. ByHeart has not released any valuation figures.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
05/13/2024 | Series B | $265.05MM | $xx.xx | $879.16MM | D1 Capital Partners, OCV Partners, Polaris Partners, Bellco Capital, Two River, Red Sea Ventures, AF Ventures, Gaingels | |
Price per Share
$xx.xx
Shares Outstanding
25,631,154
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
D1 Capital Partners, OCV Partners, Polaris Partners, Bellco Capital, Two River, Red Sea Ventures, AF Ventures, Gaingels
|
||||||
04/15/2020 | Series A-3 | $23.01MM | $xx.xx | $196.56MM | Polaris Partners, D1 Capital Partners, OCV Partners, Red Sea Ventures, Sean Parker, Bellco Capital, Two River | |
Price per Share
$xx.xx
Shares Outstanding
6,585,269
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Polaris Partners, D1 Capital Partners, OCV Partners, Red Sea Ventures, Sean Parker, Bellco Capital, Two River
|
||||||
04/15/2020 | Series A-2 | $9.06MM | $xx.xx | $196.56MM | Polaris Partners, D1 Capital Partners, OCV Partners, Red Sea Ventures, Sean Parker, Bellco Capital, Two River | |
Price per Share
$xx.xx
Shares Outstanding
5,814,487
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Polaris Partners, D1 Capital Partners, OCV Partners, Red Sea Ventures, Sean Parker, Bellco Capital, Two River
|
||||||
04/15/2020 | Series A-1 | $70MM | $xx.xx | $196.56MM | Polaris Partners, D1 Capital Partners, OCV Partners, Red Sea Ventures, Sean Parker, Bellco Capital, Two River | |
Price per Share
$xx.xx
Shares Outstanding
15,025,973
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Polaris Partners, D1 Capital Partners, OCV Partners, Red Sea Ventures, Sean Parker, Bellco Capital, Two River
|