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Provenance isn't accepting new investments

Provenance’s deadline was November 2, 2020

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Provenance

Prepared meals to nourish mind & body
Women Founders B2C Food Nutrition
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Featured image of Provenance
$183,923
Raised
529
Investors
Successfully funded and closed on November 2, 2020.
Invest in Provenance
Pitch Updates 35 Reviews 167
Invest Invest in Provenance
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Closed on November 2, 2020. Information may not be up-to-date. Campaign closed on November 2, 2020. Information displayed may not be up-to-date.
Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Funding Founders
About Team Press

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Clee Wellness LLC dba Provenance Meals. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Provenance Crowd SAFE Provenance Form C-A 4.27.20.pdf
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Hear from some of the 529 investors in Provenance


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Highlights


$1M+ revenue
Company had over $1M in revenue in the past 12 months
Bootstrapped
High traction without any outside capital
  • Premium, organic prepared meal delivery service for busy people
  • Exceeded $1.43M revenue in 2018
  • Profitable since 2014, $0 raised to date
  • $65.6B prepared meals market in U.S.
  • Woman and minority-owned business
  • Ranked #1 best meal delivery service in NYC by PureWow
  • Featured in Forbes, Harper’s Bazaar, The New York Times, Vogue, and more

Problem


Eating for optimal health
is complicated and
time-consuming

The lifestyle of most busy urban professionals involves processed foods and restaurant takeout, sitting at a desk much of the day, with a never-ending to-do list that causes stress and anxiety.  Obesity, overweight, depression, heart disease, and a whole host of other medical and health concerns are on the rise, and the price we pay in terms of our quality of life and our sense of well-being is high. We all know we could be healthier, but the latest fad diet or trending quick fix isn’t the answer. It’s a lifestyle change. And when it comes to changing what you eat every day of the week, it’s been a difficult hurdle to jump, until now.

Solution


An easy and delicious way to look and feel your absolute best

  • Ready-to-Eat, No Cooking Required
  • 100% Gluten-Free, Dairy-Free, with No Refined Sugar
  • Designed by Nutritionists and Health-Supportive Chefs
  • Organic & Sustainably Sourced Ingredients 
  • Pasture-Raised Meats, Eggs, & Wild Seafood
  • No GMOs, No Pesticides, & No Refined Vegetable Oils 
  • Compostable & Recyclable Packaging
  • Delivered to Your Door

Product


Simple and convenient organic meal delivery

Whether you want to reset your body with a detox, break unhealthy eating habits, or need an easy way to maintain optimal health without the restrictions of a diet, our clean eating programs provide everything you need to become the healthiest version of yourself today.

Traction


$1.43M+ in revenue




 

Customers


Devoted following of celebrities, wellness influencers, and busy clients

Provenance has cultivated a devoted following with some of the biggest names in Hollywood and the health and wellness industry. We are helping our clients prepare for the red carpet, weddings, pregnancy and birth, and prevent and manage disease and illness.

Business model


Profitable since 2014

Provenance sells directly to clients via our website. Our prepared meals are available as a one-time order, starting at $68/day for a full day of meals, or as a recurring subscription. Orders are placed online utilizing our custom software, 3 days in advance of delivery. Subscribers pay an annual recurring fee of $99 to become a member and receive orders automatically each week. 

The average order size is $244 and 76% of revenue in the last 12 months has come from return customers. We've been in business for 7 years and have fine-tuned operational efficiency with an emphasis on the ability to scale. As we reach our target market in additional cities, our gross margins (currently 50%) increase as we achieve economies of scale.

Market


At the intersection of the wellness industry and the prepared meals market

  • The U.S. prepared meal market is an estimated $65.6 billion in 2019, estimated to reach $72.6 billion in 2023.

  • The global health and wellness food market is expected to increase by at least 6% annually in the next 2 years.

  • 80% of Americans are willing to pay a premium for food that offers health benefits. 

Our target market includes busy urban professionals ages 25-45, mostly female, with a household income of over $200K per year. This market segment understands the connection between what they eat and their physical and emotional health, but does not have the time to cook. 

Competition


We are NOT a meal kit

Current competitors are small prepared meal delivery services and a few larger national companies that have received investments from 2016 to 2018 and are still attempting to grab market share. This is still the birth of this major industry. We believe Provenance will become the standard for high quality, nutrient-dense prepared meals. 

Our competitors do not have the retention and loyalty that Provenance customers have shown. They cater to niche diets that don’t appeal to a wider population nor inspire a long term way of eating.  We have a 5-6 year lead on our potential competitors and have established the operations, partnerships, and recipes that will fuel our growth and maintain customer loyalty. 

Vision and strategy


Food has the power to transform lives for the better 

We have established ourselves as a premium and trustworthy brand in NYC. In 2020, we are focusing all funding on optimizing and scaling our operations. 

  • Establishing operations in Los Angeles, CA - our strongest wellness market. 

  • Shipping our prepared meals via insulated boxes to extend our geographical reach to more clients.

  • Upgrading our custom eCommerce software to manage all order and fulfillment processes, track client health metrics, automate client services, and support a branded online wellness community.

  • Increasing brand awareness through continued partnerships with doctors and nutritionists, like-minded wellness brands, celebrities, influencers, and more.

Funding


$0 capital raised to date

Provenance Meals has achieved consistent year-over-year growth solely through bootstrapping. This represents our first capital raise, to support expansion and continued growth.

Founders


Founder and CEO Caroll Lee is an avid cook, mother of two, and Board Certified health coach specializing in functional medicine.  A graduate of the Institute for Integrative Nutrition, her teachers included the country’s most renowned integrative health professionals, including Dr. Frank Lipman, Dr. Mark Hyman, and Dr. Sara Gottfried.

Caroll brings  20+ years experience in e-commerce and luxury branding to Provenance, from the early days of the internet in SF to launching the first e-commerce sites for Gucci, YSL, Stella McCartney, and Balenciaga. After the untimely loss of both her mother and father-in-law over a 2 year period, she turned her passion for feeding people real food into a mission to bring nutrition back into health and preventative care.

Deal terms


Valuation cap

$5,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

20%

If a trigger event for Provenance occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$100

The smallest investment amount that Provenance is accepting.
Learn more

Funding goal

$1.07M

Provenance must achieve its minimum goal of $25K before the deadline. The maximum amount the offering can raise is $1.07M.
Learn more

Deadline
Provenance needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Clee Wellness LLC dba Provenance Meals. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Provenance Crowd SAFE Provenance Form C-A 4.27.20.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Provenance.
Invest
$250
Receive
  • Listed as an Early Investor on company website (Ability to opt-out if desired)
  • DIY Reset Program eBook with 10 Secret, Never-Been-Shared Provenance Recipes
Invest
$500
Receive
  • All of the above
  • $100 Virtual Gift Card towards your Provenance Meal Delivery
Invest
$1,000
Receive
  • All of the above
  • VIP Founders Club, including lifetime 10% discount code on all orders
Invest
$5,000
Receive
  • All of the above
  • 1:1 Virtual Health Coaching Session with our Head of Client Wellness, Sarah Hebbel-Stone
Invest
$15,000
Receive
  • All of the above
  • Private Dinner Party catered by Provenance for up to 25 guests at your home in NYC or LA

Why others invested

See all reviews (0) See all (0)

A strong, experienced team with a clear mission/vision behind building & delivering a good product - service in mega trend market.

Profile picture of John Klacynski
John Klacynski
Active investor
over 5 years ago

I think healthy + convenient is way underserved worldwide and like your approach to solving that.

Profile picture of Adrian Parker
Adrian Parker
Active investor
over 5 years ago

Love clean food, organic, gluten free, etc...Co has also a proven record of concept, and I'm sure of their success. waiting for them in West Coast (is where I'm)!

Profile picture of Magdalena Popovici
Magdalena Popovici
Active investor
over 5 years ago

About Provenance

Legal Name
Clee Wellness LLC dba Provenance Meals
Founded
May 2013
Form
New York LLC
Employees
8
Website
provenancemeals.com
Social Media
Headquarters
Google Map location of of Provenance
301 Columbia Street , Brooklyn, NY
Headquarters
301 Columbia Street, Brooklyn, NY, United States 11231

Provenance Team
Everyone helping build Provenance, not limited to employees

Profile picture of Caroll Lee
Caroll Lee
Founder & CEO
Featured in Superheroes · Read
Caroll is passionate about putting nutrition back into healthcare through the power of food as medicine. Before founding Provenance, Caroll launched and managed numerous e-commerce sites for luxury brands in Gucci Group's E-Business Division.
Profile picture of Lauren Haupt
Lauren Haupt
Director of Operations
Lauren thrives at creating systems and culture directed at rocketing a company's growth. She has over a decade of operations and management expertise. Previously at Pure Food & Wine, Empire Cake, The Dutch, and Levain Bakery.
Profile picture of Liz Mazzei
Liz Mazzei
Director of Marketing
Liz is a full-stack, growth marketer with 10+ years of branding and digital marketing experience. She is data-driven with a funnel mindset focused on consistency and efficiency. Previous startup experience at imbookin, acquired by BizBash.
Profile picture of Sarah Hebbel-Stone
Sarah Hebbel-Stone
Head of Client Wellness
Sarah believes functional nutrition is key to feeling your best and is dedicated to making healthy living easy to implement. She's a Health Coach and Certified Culinary Nutrition Expert with 14 years of experience in client service and hospitality.
Profile picture of Serafina Alonso
Serafina Alonso
Culinary Director
Serafina learned the power of cooking with whole, natural foods from an early age. A second generation fine-dining chef, she is a graduate of the prestigious French Culinary Institute. Previously at Bouley, Ladurée, Dean & Deluca.
2 more team members
Caroll Lee
Founder & CEO
Lauren Haupt
Director of Operations
Liz Mazzei
Director of Marketing
Sarah Hebbel-Stone
Head of Client Wellness
Serafina Alonso
Culinary Director

Press

I Tried This 3-Day Anti-Inflammatory Detox, and I Couldn'...
In The Know In The Know

Overall, the plan was incredibly easy to follow, the food tasted good and — the best part — I didn’t have any stomach iss...

Here's How You Can Help Feed Front Line Heroes Amid COVID-19
New York Post New York Post

There are many ways to nourish essential workers and health-care professionals right now. This new nonprofit, Fuel The Fr...

Eat Healthy Foods While Staying Home With Help From These...
Forbes Forbes

While spending more time cooking at home can have its advantages, at our house, my teenage boys have been making lemon sq...

Best Healthy Meal Delivery Service For Every Lifestyle Th...
Delish Delish

There are many excuses you can use to justify you ditching your self-proclaimed goal to eat healthier. I don't have time ...

What I'm Loving Now: Provenance's 10-Day Vegan Meal Delivery
Westman Atelier Westman Atelier

So when I heard that Provenance, the New York City-based organic meal delivery service, was collaborating with Taryn to o...

Inside By Chloe's Co-Founder Samantha Wasser's Kitchen
Coveteur Coveteur

By Chloe's Samantha Wasser's fridge is a lot more relatable than one would think. Meet Samantha Wasser, the co-founder an...

Six of the Best Healthy Meal Delivery Services
Forbes Forbes

Of course it would be easier to eat your vegetables (and other healthy treats) if someone else cooked them for you and th...

12 Healthy(ish) Food Delivery Services to Get You Beach B...
GQ GQ

There are only six weeks left until summer, but you’ve made a game plan. You’re not quite ready to fast, but know what yo...

The Best Meal Delivery Services in NYC, Ranked
PureWow PureWow

You know what’s the easiest thing ever? Having a bunch of food delivered to your door so you don’t have to think about co...

Meal Delivery Services That Bring Healthy Food to Your Do...
Vogue Vogue

Wanting to eat more thoughtfully is a pretty uncontroversial resolution. Who among us doesn’t want to eat like they’re at...

The Best (Healthy) Meal Delivery Companies | Goop
Goop Goop

Just like anything else that's inherently good for you, staying the course on the path to meeting healthful eating goals ...

Meal Delivery Services for Every Type of Healthy New Yorker
Well+Good Well+Good

With a generation of city dwellers now subsisting nearly entirely on Seamless come dinner time, a new kind of food delive...

Meal Deliveries Endorsed by Lena Dunham and the Like
T Magazine T Magazine

These four NYC-based meal services are designed for a less punishing post-holiday recovery than juicing alone. And for th...

What to Expect When You Detox
The Daily Meal The Daily Meal

Eating clean is not a new concept, but it can be intimidating to incorporate into a busy lifestyle. I knew I needed a cha...

The Meal Delivery Service that Changed the Game for Me
Swearby Swearby

I have a very intimate relationship with meal delivery plans - the good, the bad, and the ugly. I thankfully stumbled upo...

An Editor Tests Goop Products and Gwyneth Paltrow's Lifes...
Coveteur Coveteur

We've already established that I am the quintessential beauty and wellness guinea pig, meaning that if there's a challeng...

A Day in The Life of a Wellness Entrepreneur
Shape Shape

Specializing in food that's free of gluten, dairy, and refined sugar, the company has become a one-stop-shop for busy fol...

I Tried It: Goop-Approved Provenance Meals Had Shocking E...
Us Weekly Us Weekly

The whole experience felt luxurious, but not for the obvious reasons. Sure, I felt fancy pulling out my prepared meals th...

An Honest Review: 7 Day Detox - I Didn't Feel Deprived fo...
Byrdie Byrdie

I felt more energized, and moreover, I felt extremely proud of myself for nourishing my body with healthy, plant-based fo...

Show all
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Provenance

Provenance successfully raised $183,924 from 529 investors on November 2, 2020
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Kathleen, Miguel, Gregory, Samuel, Gary, and 524 others invested. 167 Reviews
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