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TemperPack bags $31m in Series C funding for sustainable packaging
August 7, 2020
TemperPack has found a way to not only ship perishable food and temperature-sensitive medicine, but do it in a sustainable way.
And investors are taking notice.
The Richmond, Virginia-based company raised $31.3 million in Series C financing led by Wheatsheaf Group, and included follow-on investments by existing shareholders Revolution Growth, Harbert Growth Partners, SJF Ventures, Arborview Capital, Tao Capital, Third Prime Capital and Greenhouse Capital.
The new funding gives TemperPack total investments of more than $78 million, co-founder and CEO Brian Powers told Crunchbase News. The total also includes a $22.5 million Series B round from January 2019, according to Crunchbase data.
TemperPack was founded in 2015 by Powers, Chief Product Officer James McGoff and Chief Technology Officer Charles Vincent to design and manufacture sustainable thermal insulation for home deliveries.
“We were growing quickly prior to COVID-19, but that accelerated growth even further,” he added. “We thought momentum would wane, but our customers instead doubled down on not using Styrofoam.”
Read the full story here.
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