Vitabowl, a food-as-medicine meal delivery company based in San Francisco, recently closed a $3 million seed round with the aim of expanding into the healthcare industry. The company’s initial offering, a superfood menu designed by Charles Yim, Mike Lorenzo, nutritionist Sarah Brando, and Michelin-starred chef Dominic Crenn, was geared towards serving people suffering from chronic diseases through tailored diets. Today, Vitabowl partners with contract manufacturers, including Territory Foods, to offer a variety of low-carb, pescatarian, and other meal options, and has recently expanded into vegetarian burgers and juices.
After generating $1 million in annual sales and serving B2B customers across government agencies, K-12 schools, hospitals, and businesses, Vitabowl believes that healthcare represents a lucrative opportunity for the meal preparation industry. CEO Charles Yim stated that the company’s goal is to work with health insurance companies to ensure that its meals and programs are medically adjusted and reimbursable. By applying tightly medically coordinated programs to treat or mitigate chronic diseases, Vitabowl seeks to differentiate itself from traditional meal preparation services.
Vitabowl’s investment in investors including Anne Metzger, Tanner Holmes, Matt McCowyak, Tierne Hawkins, and the company’s newest appointment, Dennis Lam, allowed it to raise $3 million in seed funding at a $10 million valuation. The company is inching closer to its goal of reimbursing its own plant-based superfood diets, potentially through Blue Cross Blue Shield, to patients enrolled in certain medical plans. One healthcare program that Vitabowl covers is meal via insurance companies, while the other is supplements and prescriptions.
Boosted by ambitious expansion plans across retail in 2023, Vitabowl aims to be profitable and reach $10 million in revenue by the end of the year. The company plans to focus on B2B for the next phase of its growth as it is highly profitable, has near-zero marketing costs, and is scalable. Vitabowl is also formulating several new SKUs, including frozen food, in partnership with Golden West, while perfecting ingredients and flavors. The company plans to accept acquisition offers in the future.