Hero Bread completes funding round, announces retail expansion (Score 44)

Sales lead: Reach out if you can help this growing brand build brand awareness. 

  • Hero Bread (HB) recently secured $15m in a Series B funding round. 
  • This brings the company's current valuation to $47.5m.
  • The company plans to use these funds to fuel growth and product innovation. 
  • HB also announced its products will be available nationwide at 2.3k grocery retail stores in H2.  

In other news:

  • YuChiang Cheng joined the company as interim CMO in September 2022.
  • He is responsible for building the marketing team, brand, DTC eCommerce, CRM, and performance marketing. 
  • We will be sure to let you know once the company names a permanent CMO.

**We are unable to confirm Cheng's email address. Please reach out to HB's other DMs for the time being.**

Target demographic: Primary shoppers seeking healthy options (Gen-X & millennial women)

The company will likely: 

  • Build out its marketing team
  • Increase ad spend
  • Seek agency assistance

Digital and social insights (digital ad spend, effectiveness, impressions, and performance)

  • YTD spend: HB has not allocated significant budget toward digital display ads YTD. 
  • 2022 spend: It started investing in this channel in 2022 spending about $3.1k. 
  • 2022 data: 908.5k impressions via programmatic ads. 
  • Ad location: It placed 100% of these ads programmatically through Google DV360 and Google Display Network onto sites such as drudgereport.com, washingtonpost.com, foxnews.com, fooducate.com, and instapundit.com. 

Agency analysis:

  • Opportunity: Get in touch if you can help this company build initial brand awareness. 
    • HB does not currently work with any agencies to the best of my knowledge. 

Insight Sources: Digital spend insights estimated by Adbeat