BFY Momvertising Opps: Ripple Foods completes Series F funding round (Score 14)
Sales lead: Reach out now to offer ad space & agency services. .png)
- Ripple Foods (RF) secured $49m in November during a Series F funding round.
- This brings the company's evaluation to over $274m.
- RF raised $57m in 2021 through a Series E funding round.
Target demographic: Gen-X & millennial moms
The company will likely:
- Ramp ad spend back up
- Try new marketing channels
- Seek agency partners
Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)
- YTD spend: RF has not aired a national TV ad so far in 2023.
- 2021-2022 spend: Full-year spend jumped from $2m in 2021 to $3.2m in 2022.
- 2022 ad programming: It placed ads during programming such as Today 1, Today 3rd Hour, Chicago Fire, The Office, and Friends.
Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: RF spent about $139.2k on digital display ads YTD, just 14% of the $980.2k spent in this channel duirng the same time period of 2022.
- YTD data: 20.7m impressions via Instagram (52%) and Facebook (48%).
- 2021-2022 spend: Full-year spend fell by 59%from $2.4m in 2021 to $981.3k in 2022.
- Ad location: It placed 100% of these ads directly onto instagram.com and facebook.com.
Agency analysis:
- Opportunity: RF may use a portion of the new funds to hire agency partners.
- We have not confirmed any current agency relationships for RF.
Insight Sources: Broadcast insights estimated by iSpot; Digital spend insights estimated by Pathmatics.
