SAN FRANCISCO — Hero Bread announced the close of a $21 million Series B financing round. With this round, the baking company is at $68.5 million total funding to date.
The round was co-led by Cleveland Avenue, DNS Capital and Composite Ventures with additional participation from existing investor Greatpoint Ventures.
“Hero Bread is at an exciting inflection point with proven product-market fit, strong revenue growth, and a mission we deeply admire,” said Jim Armstrong of Composite Ventures. “With this funding, the company is extremely well-positioned to extend its leadership in the better bread space.”
The funding will help the better-for-you baked goods brand bolster its national distribution by investing in its current retail partners and funding new product innovation. Earlier this year, Hero expanded its reach to 3,500 retailers at the close of Q1. YuChiang Cheng, CEO of Hero Bread, shared that the brand expects continued growth on the retail side.
“We truly have a superior leading product that often exceeds the taste of conventional breads. Launched in retail and on Hero.co just over a year ago, we have verified the consumer love for and loyalty to Hero Bread product,” Cheng said. “Hero Bread has shown supreme customer satisfaction and high repeat purchases in every channel, thanks to our products’ great taste and everyday functionality. This fundraise will enable us to better fulfill our mission to drive wellness from the plate up, gaining distribution and meeting the consumer where they want to shop.”
Since the brand’s launch in 2022, Hero has innovated across different bakery segments by expanding its staple offerings, reformulating products with olive oil to meet consumer interests and rolling out new baked goods such as its most recent launch, Hawaiian Rolls.
