Home Chef just announced that it’s raised a new $40 million round of funding.
This Series B comes on top of the $10 million round that Home Chef raised earlier this year. It was led by L Catterton, the private equity firm formed by the recent merger of Catterton with the PE arm of luxury conglomerate LVMH.Founder and CEO Pat Vihtelic has argued that Home Chef differs from other services delivering meal kits because of its flexibility, allowing customers to choose from a weekly menu of 10 different dinners, and because it’s less interested in “exotic” menu items and more in home-cooking staples.
The standard pricing for Home Chef meal kits is $9.95 per serving, and the company delivers its meals nationwide.
The Home Chef approach seems to be working, since the company says it’s now delivering 1.5 million meals each month, with a team of more than 600 employees. It also opened a new distribution facility in Atlanta to complement existing facilities in Los Angeles and Chicago.