Last week I said it feels like every week another Techstars Alum raises a monster round, and well, it has happened again. This week Plated, a startup that delivers recipes and ingredients weekly announced that they have raised a whopping $15M.
“Alan Patricof, founder and managing director of Greycroft Partners, said his firm was impressed with the startup’s fast growth to date, especially in light of the fact that it built its business on relatively little capital and word-of-mouth and social media marketing only.” (Source – Wall Street Journal)
Plated went through the Techstars New York class last year and has absolutely dominated in a market that has grown considerably over the last 2-3 years. What’s interesting is that Plated could have raised even more money but decided to hold back not wanting to grow too quickly too soon.
A“We had more money chasing us than we thought we needed until our next inflection point. We made a conscious decision after seeing some other New York-based e-commerce companies raise too much money early in their life cycles, to be more conservative.” (Plated CEO, Nick Taranto)
If you want to dig a bit deeper into Plated, Huffington post did a great video on them that is definitely worth watching. Huge congrats to Nick and the team, I couldn’t be more proud to be a part of the Techstars family and it also proves that a week really can’t go by without another Techstars company making big news!