As BetterBrand Takes On Refined Carbs, Its $170M Valuation Sets a Record For Female Founders

BetterBrand, the food tech industry startup tackling refined carbs, has set a record for the highest Series A valuation posted by a female founder in venture history.

Using groundbreaking technology to disrupt the $12 trillion refined carb market, BetterBrand is now valued at $170 million pre-money following its $6 million Series A funding round. Since its inception in 2021, BetterBrand has successfully raised nearly $10 million in funding, firmly cementing its position as a force to be reckoned with in the food tech industry.

The Series A valuation is more than double that of leading tech giants Facebook, Stripe, and Tesla. BetterBrand’s founder Aimee Yang is one of only 150 solo female founders to raise a Series A higher than $5 million.

‘Proving that the impossible is possible’

The recent funding round was led by VERSO Capital and saw participation from a host of notable investors including the Gaingels Fund, Seven Seven Six by Alexis Ohanian, and Craft Lane. Other individual contributors included venture capitalist Chris Hollod, Cruise Founder, and CEO Kyle Vogt, and investors Jeff and Glenne Azoff.

The company’s growth potential, innovative technology, and appeal to the investor community have also attracted attention from Sean Thomas of the Wendy’s family, and actors Patrick Schwarzenegger and Emmy Rossum.

“We are absolutely thrilled about this next chapter for BetterBrand to support our rapid global expansion and continued innovation,” Yang said in a statement. “This is yet another example of how our mission — proving that the impossible is possible — is demonstrated through practice, and touches not only our product innovation but the massive potential of Better’s power and scale.”

The Series A funding comes as the company is experiencing significant growth. It reported an 800 percent year-on-year growth rate between 2021 and 2022 and is set to see similar growth in the coming year.

BetterBrand’s signature product, The Better Bagel, outperformed all other new products in the Natural retail channel in 2022 and made a successful debut in the retail sector with a global launch at Whole Foods Market in Q3 2022, racking up sales exceeding $1 million in the first five months.

Better carbs

Yang is aiming to do for the refined carb market what Beyond Meat and Impossible Foods have done for the protein market. BetterBrand relies on wheat protein and agave fiber to deliver a bagel with the protein equivalent of four eggs while containing only one gram of sugar and five grams of net carbs.

Having introduced The Better Bagel in 2021, BetterBrand quickly caught the attention of customers, tastemakers, and retailers. The high-protein, low-carb bagels can be found both online and in more than 1,000 stores across the U.S., including renowned supermarkets such as Whole Foods, Sprouts, Fresh Market, Gelson’s, Bristol Farms, Giant, Harmon’s, Lassen’s, Plum Market, Wild by Nature, and FoxTrot.

“Aimee Yang is an incredible entrepreneur and a solid operator,” said Cruise Founder & CEO Kyle Vogt. “Her company offers life-changing, clean, functional products for those who previously felt they had to give up some of their favorite foods to fit their nutritional needs. It’s an exciting journey to be a part of.”

Gaingels Managing Director Lorenzo Thione says Gaingels is “thoroughly convinced” that under Yang’s leadership, BetterBrand is poised to redefine “our very relationship with carbohydrates,” by combining health and taste in one innovative package.

“BetterBrand’s vision is not just about a product; it’s about a revolution in how we perceive and consume starches, worldwide,” Thione said. “We’re excited to support Aimee’s journey in transforming this giant market and look forward to the indelible impact BetterBrand will make.”

The company, experiencing rapid growth, has announced the upcoming release of 16 new products, all headed by Michelin-starred baker Matthew McDonald. The new products are slated to hit the market by the end of 2023.