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With a new chief executive officer and $4 million in fresh funding from investors including the Los Angeles-based investment firm, Upfront Ventures, Territory Foods is poised for growth.
The company recently hired powerhouse executive Abby Coleman, the former vice president of marketing and strategy at Quidsi and head of e-commerce at Diapers.com as its new chief executive and is now looking to expand its footprint and unique approach to meal delivery beyond its current geographies.
Company - Food - Recommendation - Engine - Subscribers
The company uses a proprietary food recommendation engine to determine its subscribers’ personal preferences to deliver them meals that are more tailored to their individual tastes.
Territory also employs a unique business model, leveraging local chefs to prepare meals according to menus designed by the company.
Workforce - Gig - Chefs - Company - Flexibility
The distributed workforce of gig chefs allows the company greater flexibility in planning, preparing, and distributing its meals, according to Coleman.
A lifelong vegetarian and mother of two vegetarian daughters, the 39-year-old Coleman actually began her business in the food services industry as a caterer before moving on to leadership positions at Kraft Foods and Mondelez International before taking on the vice presidential role at Quidsi.
Board - Response - Decision - Board - Patrick
“My coming on board was really a response to a decision that the board and Patrick [Smith] made that it was time to scale the business,” says Coleman.
With the new cash the company intends to expand its footprint in locations beyond its hubs in major cities on the East and West coasts (and Texas), including: Baltimore, Dallas/Ft. Worth, Los Angeles, San Francisco, and the Washington metropolitan area.
Plenty - Opportunity - Growth - Market - Eating
There’s plenty of opportunity for growth considering that the market for healthy eating and personalized food is roughly $702 billion, according to the company. In 2018, one out of every three Americans reported to following some kind of healthy eating protocol with the percentage highest among 18-34 year olds, according to information...
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