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.
- 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.