Pet-products company raises $11.8 million
Last Updated: 10:55 May 27, 2014
Boulder-based I and love and you raised more than $11.8 million, according to a filing made with the Securities and Exchange Commission this week.
Chicago-based Winona Capital Management joined previous I and love and you investor Revelry Brands in participating in the funding round. I and love and you was founded in 2012 with funds from Revelry, and Revelry retains a majority stake in the company.
I and love and you, based at 5541 Central Ave., makes natural pet foods and treats as well as supplements for cats and dogs. The company's products are sold in 750 stores nationwide, from Whole Foods and Sprouts to Unleashed by Petco and Pet Supplies Plus.
"It's going to really help us accelerate the growth of the business both from a personnel and distribution standpoint," Ball said of the partnership with Winona.
Ball said there will also be a renewed focus on product development and innovation with the new funding round.
I and love and you employs 18 people, including 14 in Boulder and four national marketing reps spread around the country. The company's headquarters includes marketing, sales, development and operations functions, while the products are manufactured elsewhere in the United States. Ball said the company plans to add four employees in Boulder and two more across the country in the next 12 months.
According to the recent SEC filing, the privately held company has annual revenue between $1 million and $5 million.
More breaking news...
Level 3 wins U.S. Homeland Security contract
As part of the agreement, SNC will
DigitalGlobe’s satellites help watch forest fires
Startup's app helps students discover events
Varsity co-founders Devon Tivona and Lianne