HumanCo Market Research Report

Background

Overview

HumanCo is a mission-driven holding company dedicated to creating and investing in consumer products that promote healthier living and sustainability. Founded in 2019 by Jason H. Karp and Ross Berman, the company focuses on acquiring, incubating, and building brands that align with its core values of health, transparency, and environmental responsibility.

Mission and Vision

HumanCo's mission is to advance the health of consumers and the planet by offering cleaner, more sustainable consumer products that lead to healthier outcomes and improved trust. The company's vision is to inspire a movement towards better living by providing products that are both healthy and enjoyable, without compromising on taste or quality.

Primary Area of Focus

HumanCo operates within the consumer packaged goods (CPG) industry, specifically targeting the health and wellness sector. The company emphasizes the development and promotion of products that are organic, non-GMO, gluten-free, and free from artificial additives, aiming to address the growing consumer demand for healthier and more sustainable options.

Industry Significance

In an era where consumers are increasingly conscious of the health and environmental impacts of their purchases, HumanCo plays a pivotal role in reshaping the CPG landscape. By prioritizing transparency and sustainability, the company sets a new standard for product development and consumer trust, influencing industry trends towards cleaner and more responsible practices.

Key Strategic Focus

Core Objectives

• Health and Wellness: Develop and promote products that contribute to healthier lifestyles.

• Sustainability: Implement environmentally responsible practices in product development and operations.

• Transparency: Ensure clear and honest communication about product ingredients and sourcing.

Specific Areas of Specialization

HumanCo specializes in creating and investing in brands that offer better-for-you alternatives in categories such as snacks, frozen foods, and personal care products. The company focuses on reformulating traditional comfort foods to be healthier without sacrificing taste or quality.

Key Technologies Utilized

While specific technological platforms are not detailed, HumanCo emphasizes the use of innovative product development techniques to create healthier and more sustainable consumer goods. This includes sourcing real, clean, and simple ingredients to enhance product quality and nutritional value.

Primary Markets or Conditions Targeted

HumanCo targets health-conscious consumers seeking convenient, delicious, and nutritious food options. The company also appeals to environmentally conscious individuals interested in sustainable and ethically produced products.

Financials and Funding

Funding History

As of September 2021, HumanCo has raised a total of $50 million in funding. This includes a $35 million bridge financing round completed in September 2021, which brought in high-profile investors from various sectors.

Recent Funding Rounds

• September 2021: Completed a $35 million bridge financing round, bringing total funding to $50 million.

Notable Investors

The funding round in September 2021 attracted a diverse group of investors, including:

• Scarlett Johansson: Actress and creative director at Snow Days.

• Indra Nooyi: Former CEO of PepsiCo.

• Kurt Seidensticker: Founder of Vital Proteins.

• Nick Green: Founder of Thrive Market.

• Walter Robb: Former CEO of Whole Foods.

• Shawn Mendes: Singer-songwriter.

• Venus Williams: Tennis star.

• Andy Roddick: Tennis star.

• Cindy Crawford and Rande Gerber: Model and entrepreneur duo.

• Edward Norton: Actor and activist.

Intended Utilization of Capital

The funds raised are intended to:

• Support the growth and expansion of existing brands within the HumanCo portfolio.

• Facilitate the acquisition of new brands that align with HumanCo's mission and values.

• Enhance operational capabilities to scale operations effectively.

Pipeline Development

Key Pipeline Candidates

HumanCo's portfolio includes several brands:

• Snow Days: A brand offering healthy, gluten-free pizza bites.

• Monty's: A producer of plant-based cream cheese and vegan butter.

• Coconut Bliss: A maker of vegan ice cream from coconut milk.

• Against the Grain: A Vermont-based company specializing in grain-free, gluten-free pizzas, breads, and cake mixes. HumanCo acquired a majority stake in Against the Grain in September 2021.

Stages of Clinical Trials or Product Development

Specific details regarding the stages of product development for each brand are not publicly disclosed.

Target Conditions

The brands under HumanCo's portfolio target consumers seeking healthier, gluten-free, and plant-based food options.

Relevant Timelines for Anticipated Milestones

While specific timelines for product launches or milestones are not provided, HumanCo's strategic focus includes expanding its portfolio and enhancing brand presence in the market.

Technological Platform and Innovation

Proprietary Technologies

HumanCo emphasizes the use of real, clean, and simple ingredients in its products, focusing on transparency and sustainability. The company does not rely on synthetic or engineered additives, aligning with its commitment to natural and wholesome food options.

Significant Scientific Methods

While specific scientific methodologies are not detailed, HumanCo's approach includes:

• Sourcing ingredients from local farms to support community agriculture.

• Implementing sustainable manufacturing processes to reduce environmental impact.

• Ensuring products are free from gluten, grains, GMOs, and artificial additives.

Leadership Team

Jason H. Karp – Founder and CEO

Jason Karp is the founder and CEO of HumanCo. He co-founded Hu Products and Hu Kitchen in 2011, focusing on transparent, simple ingredients to promote healthier living. Prior to his entrepreneurial ventures, Karp led a successful 21-year career in the investment space, serving as Founder & CEO of Tourbillon Capital Partners, a $4 billion investment fund.

Ross Berman – Co-Founder and President

Ross Berman is the co-founder and president of HumanCo. He has over 20 years of investment experience in public and private markets, with a focus on the consumer sector. Berman previously founded and served as Chief Investment Officer of Green Owl Capital Management and was a co-founder of BAM Capital Management.

Moshe Shalchon – President

Moshe Shalchon is the president of HumanCo Brands. With nearly two decades of experience across finance, operations, and investing, Shalchon has held senior leadership roles in both investment and operating sides of the business. He previously served as CEO of Cosmic Bliss, a HumanCo portfolio company, and has been instrumental in overseeing finance, operations, and cross-portfolio execution.

Amy Zipper – Chief Operating Officer

Amy Zipper is the Chief Operating Officer of HumanCo. With years of experience managing operations, human resources, legal, technology, marketing, and investor relations, Zipper is a driving force in the company's operations. Her passion for creating a healthier world stems from a need to raise her children with a healthy and allergy-friendly diet.

Indra K. Nooyi – Advisory Board Member

Indra Nooyi is the former Chairman and CEO of PepsiCo, serving from 2006 to 2019. Under her leadership, PepsiCo focused on delivering sustained growth by making more nutritious products, limiting its environmental footprint, and empowering its associates and communities.

Brian Jacoby – Advisory Board Member

Brian Jacoby has significant experience in the consumer services and hospitality sectors, having served as President & CEO and a Director at Keurig Green Mountain from 2012 to 2018. He has been instrumental in building powerful brands at all growth stages across multiple consumer sectors.