Hungry Root

New York, NY Food & Beverage Private

Hungry Root is a personalized online grocery and hybrid meal delivery service that combines AI-powered recommendations with weekly shipments of groceries, recipe kits, and ready-to-heat meals. The company uses its proprietary SmartCart algorithm to suggest over 6,000 recipes per week, personalizing selections based on customer dietary preferences, health goals, and cooking habits. Unlike traditional meal kits offering 20-30 choices weekly, or standard grocery delivery services, Hungry Root blends meal ingredients with grocery fill-ins like snacks, sauces, and pantry staples. The company has maintained profitability since 2020 and grew revenue 40% to $333 million in 2023, with $9.4 million in profit and free cash flow.

Overview

Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

Founded

2015

Employees

226–262

Total Funding

$76M

3 rounds

Latest Valuation

$0.75B

June 4, 2021

Funding

Total raised $76M across 3 rounds

Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

Last updated 06-25-2026

Latest Round

Type

Series C

Date

June 4, 2021

Amount

$40M

Valuation

$0.75B

Lead Investors

L Catterton
DateRoundAmount RaisedValuationLead Investors
June 4, 2021 Series C $40M $0.75B L Catterton
2018 Series B $30M $3.2B Not disclosed
2016 Series A $6M $0.43B Lerer Hippeau

Valuation Trajectory

Valuation indexed to 1.0× at the selected entry round. Valuation marks are estimates and may contain errors. Hover each dot to compare.

If you invested at:
1x 2x 5x 10x 2016 2017 2018 2019 2020 2021 Hungry Root

Entry · Series A

$0.4B

Jan 2016

Hungry Root today

$0.8B

Jun 2021 · latest mark

Hungry Root multiple

1.8x

valuation uplift since first round

Y-axis is logarithmic. Hollow dots = estimated valuations. Does not represent realized investor returns.

Leadership

  • Ben McKean

    Founder, Chairman & Chief Executive Officer

    LinkedIn
  • Carolyn Frey

    Chief People Officer

    LinkedIn
  • Zoe Mesirow

    Director of Operations Strategy

Competitors

Competitor list is illustrative and may be incomplete, stale, or erroneous.

  • HelloFresh

    Meal kit delivery service with 20-30 weekly meal options available in 48 contiguous US states and globally, offering customizable recipes.

  • Imperfect Foods

    Online grocery delivery service focusing on surplus and imperfect produce at discounted prices.

  • Good Eggs

    Farm-to-table grocery delivery service specializing in organic and ethically-sourced products.

  • Thrive Market

    Membership-based online grocery service offering organic, non-GMO, and natural products with pantry essentials and specialty items.

  • Thistle

    Plant-forward ready-to-eat meal, snack, and juice delivery service focused on health and wellness.

  • Weee!

    Online grocery delivery platform specializing in Asian, Latino, and other ethnic foods with competitive pricing.

Hungry Root Investment FAQ

Public status and buying access

No. Hungry Root is a private company and does not have a public stock ticker or trade on a public stock exchange. Its shares are generally held by founders, employees, investors, and other private shareholders. Buyers and sellers may be able to transact in Hungry Root shares through private secondary transactions, but any transaction depends on share availability, buyer and seller agreement, transfer restrictions, company approval rights, and any applicable right of first refusal. There is no guarantee that Hungry Root will complete an IPO or other liquidity event.

Yes, it is sometimes possible to buy Hungry Root shares pre-IPO through private secondary transactions. This depends on finding a willing seller, company approval, and satisfying any transfer restrictions or rights of first refusal.

Buyers interested in buying Hungry Root shares on the secondary market typically do so through SetterVC and other secondary-market platforms, subject to eligibility requirements, share availability, transfer restrictions, and issuer approval. Buyers may need to satisfy sophistication, accreditation, institutional, platform, regulatory, or other eligibility requirements before participating. Once eligible, buyers may be able to view listings, make bids, and work with a licensed broker through the transaction process. Buyers should ensure they have appropriate legal and financial advisors guiding them before completing any transaction.

The company's latest round valuation was approximately $750M as of June 4, 2021. The latest round valuation is often used as one reference point in secondary-market pricing, but secondary prices may be above or below that valuation at any given time. Secondary pricing can shift significantly based on post-round conditions, such as changes in company performance, supply-demand dynamics, share class, transaction size, transfer restrictions, or broader market shifts. Any implied valuation from a past round should be confirmed with a broker or through live market listings before relying on it.

Valuation and funding

Hungry Root was most recently valued at approximately $750M as of June 4, 2021. This is a private valuation and may differ from secondary pricing. Secondary shares may trade above or below this mark based on various factors. SetterVC and Setter Capital does not verify the accuracy of these valuations. Buyers and sellers should always confirm current valuations before completing any transaction.

Hungry Root's valuation has changed over time based on funding rounds, tender offers, secondary-market indications, and other reported or collected valuation marks. Hungry Root's valuation moved from approximately $427M as of 2016 to approximately $750M as of June 4, 2021. This comparison reflects company-level valuation marks and does not represent realized investor returns. Secondary-market prices may differ from these valuations based on share class, transaction size, transfer restrictions, supply and demand, company performance, and broader market conditions. SetterVC and Setter Capital does not verify the accuracy or completeness of valuation data, and buyers and sellers should confirm current information before relying on it.

Hungry Root's latest disclosed funding round was a Series C round in June 4, 2021. The round raised approximately $40M at an approximately $750M valuation, with L Catterton listed as disclosed lead or major investors. Primary funding rounds are different from secondary transactions: in a primary round, capital goes to the company, while in a secondary transaction, investors buy existing shares from current shareholders. Funding-round data reflects publicly reported or collected information and may be incomplete. The latest round valuation should be confirmed before it is used as a pricing reference.

Hungry Root has raised approximately $76M in disclosed funding across 3 rounds. These figures reflect primary capital raised by the company and do not include every possible secondary transaction, undisclosed round, debt facility, or private transfer. Reported funding totals can change as new rounds are announced or older round details are corrected. Eligible users can use SetterVC to track Hungry Root's funding history alongside private-market activity where available.

Hungry Root's disclosed investors include L Catterton and Lerer Hippeau. Investor lists are based on public reporting, company announcements, and collected funding-round data, and may be incomplete. Participation in a prior funding round does not mean those investors are currently buying or selling shares. On SetterVC, eligible users can review Hungry Root's funding history, valuation history, and private-market activity alongside other venture-backed companies.

Market context

Hungry Root's most-cited competitors include HelloFresh, Imperfect Foods, Good Eggs, Thrive Market, Thistle and Weee!. Investors often compare these companies by sector, product focus, valuation, funding raised, growth signals, investor base, and private-market activity.

Secondary-market demand for Hungry Root shares can be affected by company performance, revenue growth, profitability, funding history, valuation, investor interest, sector momentum, public-market conditions, expected timing of a liquidity event, and the availability of shares for sale. Demand can also be affected by transfer restrictions, company approval rights, right of first refusal processes, limited information, and the price expectations of buyers and sellers. Strong demand does not guarantee strong pricing, liquidity, or investment returns. Weak demand does not necessarily reflect the company's long-term prospects. Demand signals should not be treated as a recommendation or prediction of investment performance. Buyers and sellers should treat demand signals as informational and conduct their own diligence before transacting.

Selling and transaction mechanics

Sellers often rely on intermediaries and platforms, such as SetterVC and other secondary-market platforms, to identify potential buyers. The exact process varies by company and transaction, but sellers often begin by confirming their ownership, desired price, transferability, and any company approval or notice requirements. If the seller agrees with a buyer on acceptable price and terms, the company may need to be notified through a share transfer notice or similar process. If a right of first refusal, company approval right, or other transfer restriction applies, the seller may need to wait until that process is completed. The parties may then execute a purchase and sale agreement, complete required transfer documentation, and close if all required conditions are satisfied. Sellers should always seek proper legal and financial advice before completing the transaction.

Yes, current and former Hungry Root employees, early investors, and other existing shareholders may be able to sell vested shares before an IPO through a private secondary sale. This is not automatic; it depends on whether the shareholder has transferable shares, whether there is buyer demand, and whether the company's governing documents permit the transfer. Many companies require prior notice, company approval, or a right of first refusal before shares can be sold. Sellers should also seek proper legal and financial advice before proceeding.

A Hungry Root secondary transaction usually involves an existing shareholder selling shares to a buyer before a public listing. The buyer and seller typically agree on price, number of shares, share class, and closing conditions. The seller may then need to notify Hungry Root through a share transfer notice or similar process. If Hungry Root or existing investors have approval rights, transfer restrictions, or a right of first refusal, those steps may need to be completed before the transfer can close. The parties typically enter into a purchase and sale agreement, complete any required transfer documentation, and close only if the necessary conditions are satisfied. Timing and certainty can vary by company and transaction.

In most private secondary transactions, parties commonly use a purchase and sale agreement that outlines price, terms, and conditions. They may also use share transfer documentation, often a stock transfer notice, share transfer notice, transfer instruction, or similar document, along with any required company approval or right of first refusal materials. Proof of ownership, such as a cap table entry, share certificate, brokerage statement, issuer confirmation, or administrator confirmation, may also be important. Buyers often request recent company financials, but private companies may limit disclosure. Since every deal varies, buyers and sellers should consult legal and financial advisors to understand which documents are needed.

Risk, diligence, and investor caution

Buying Hungry Root shares pre-IPO is risky. Shares are illiquid, no IPO or liquidity event is guaranteed, valuations can change, transfers may require company approval, and private companies may provide limited financial disclosure. Be prepared for total loss. SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, verify information, and seek independent legal and investment advice before proceeding.

Private secondary shares are typically illiquid. Unlike public stocks, there is no active public market, so selling them can be difficult and time-consuming. Sales depend on finding a willing buyer and often require company approval. Investors should be prepared to hold the shares for an extended period, with no guarantee of a future sale. Always assess your need for liquidity before investing.

SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, including verifying ownership, transferability, legal structure, company approval, and assessing the company's prospects. SetterVC and Setter Capital do not provide advice on whether an investment is good, what price to pay, or what the best bid or ask is. SetterVC and Setter Capital may share documents in some circumstances, but it does not guarantee their accuracy or completeness. Due diligence is essential. Seek legal and investment advice as needed.

Before buying Hungry Root shares, a buyer should try to review the share class, price per share, implied valuation, transfer restrictions, ROFR process, company approval rights, seller ownership evidence, recent financing or tender-offer information, available financial information, information rights, resale restrictions, tax considerations, and expected liquidity paths. Not all information may be available for a private company. Buyers should confirm available diligence, process details, and information needs with their own legal, tax, and investment advisers.

SPVs carry risks. Examples include the need to confirm the company allows SPV-based transfers, verify that the SPV truly owns the shares or interests it claims to own, and ensure it has not sold more interests than it holds. Due diligence is essential. Seek legal and investment advice as needed.

Forward contracts carry risks. Examples include the seller refusing to transfer the shares at the future date, even if the seller owns them, the seller going bankrupt with creditors claiming the shares, or the seller committing the same shares to multiple parties. Due diligence is essential. Seek legal and investment advice as needed.

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