Kate Farms, producer of plant-based, organic, clinically proven formulas for tube feeding to help nourish those with chronic illnesses, announced today that Main Street Advisors has joined Goldman Sachs and Kaiser Permanente Ventures in Kate Farms‘ Series B funding round, bringing the final raise to $60 million.
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.
Main Street Advisors (MSA) is an investment advisory firm serving high-profile artists, athletes, and executives from the media, entertainment, music, and sports industries, whose current and prior MSA investments include Beyond Meat, The Spring Hill Company, Calm, Scopely and NTWRK.
“We have deep experience investing in health and wellness companies with compelling growth opportunities ahead of them,” said MSA founder and CEO Paul Wachter. “Kate Farms medical formulas and nutrition shakes address the urgent state of healthcare in this country due in large part to poor nutrition, and the impact the company can have on both individual health and ultimately decreasing the cost of healthcare overall makes this an excellent investment.”
The Series B funds will help fuel Kate Farms’ growth to bring its higher standard plant-based liquid nutrition to those in need, while driving overall innovation and expansion of the business. As Kate Farms continues to define the plant-based category in the medical community, the company is experiencing its fourth year of sustained growth. Other key wins include:
- Kate Farms products are now accessible through contracts with more than 95 percent of hospitals around the country and are covered by Medicare, Medicaid and more than 2,000 private insurance plans.
- Kate Farms launched three new products and formulas in 2020, including a specialty formula for children, a product to help people who suffer from weight loss due to chemotherapy during cancer treatment and a meal replacement shake that is available over the counter on katefarms.com and Amazon.
- Kate Farms presented new research at the 2020 Virtual Congress on Clinical Nutrition and Metabolism, the annual conference of the European Society for Clinical Nutrition and Metabolism (ESPEN) in September, demonstrating that Kate Farms’ plant-based, oral, enteral formulas (PBEF) can help adult oncology patients maintain or gain weight, allowing them to receive the treatment they need.
- Kate Farms published new research in November demonstrating improved tolerance, weight gain and adherence among a large and diverse patient population, presented at the annual meeting of the North American Society for Pediatric Gastroenterology, Hepatology and Nutrition (NASPGHAN).
To learn more about Kate Farms, its mission and products, visit www.katefarms.com.