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True Made Foods isn't accepting new investments

True Made Foods’ deadline was May 1, 2022

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True Made Foods

All-natural, no-sugar condiments made from real vegetables
Veteran Founders B2B Nutrition Food
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$759,187
Raised
1,289
Investors
Successfully funded and closed on May 1, 2022.
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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 True Made Foods, Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
True Made Foods Crowd SAFE
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Hear from some of the 1,289 people reserved or invested in True Made Foods


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Highlights


$1M+ raised
Company has previously raised over $1M in capital
$1M+ revenue
Company had over $1M in revenue in the past 12 months
Venture-backed
Company is backed by a venture capital firm
  • Available in 5K+ stores across the U.S., including Kroger and Whole Foods
  • $2M+ in gross sales in 2020 | $1M+ in gross sales YTD APR2021
  • 120% YoY growth
  • 97% ranked us "Excellent" or "Good" when sampled by over 6,000 moms
  • $4M+ in funding to date from prominent investors
  • Veteran-owned and operated
  • Official Ketchup of the Boston Red Sox and Washington Nationals

Problem


Conventional condiments are loaded with sugar

Some of our favorite condiments—ketchup, BBQ sauce and sriracha—are the biggest sources of hidden sugar. In fact, they are likely to be the most sugar-dense products in the average refrigerator. Each of these standard sauces has more sugar per ounce than ice cream, and most BBQ sauces have more sugar per serving than a glazed donut! This poses a huge problem for many families: the kitchen staples we use in our family dinners, backyard barbecues and at our ballparks are actively making America sicker and fatter.

Solution


Real flavor from real veggies

True Made Foods replaces refined sugars with real veggies and fruit. We are founded on a simple philosophy: cut the refined and artificial ingredients out of your condiments, and replace them with real produce. We bring kid-approved flavors to your backyard barbecue turning empty-calorie condiments into nutrient-dense, paleo superfoods. Our goal is to make family dinners, backyard barbecues and trips to the ballpark fun and healthy again, and not a guilt-ridden compromise. 

We aren’t just another sauce. 

We are the flavor of a modern America.

Product


Good food, made true

We now offer a line of veggie-sweetened ketchups, regional
style BBQ sauces, sriracha, mustards and hot sauces. They are Whole30 and paleo certified, keto approved, vegan, non-GMO and gluten free. We cut the sugar, but kept the flavor. Our recipes honor family recipes that use root veggies, and we never use artificial or refined sweeteners, ever.

We are also now the official Ketchup, Mustard and BBQ Sauce of the Boston Red Sox and Washington Nationals!

Red Sox! The Nationals!

True Made Foods is the official condiment for the Red Sox, and we are also the exclusive brand for our hometown team, The Nationals!

Nationals Park integrated new, no-touch technology in their pumps, dishing our our veggie-sweetened condiments safely and quickly.

Traction


Over $2M gross sales
in 2020

Our products are now available in over 5,000 stores across the U.S., including Kroger, Walmart, Sprouts, and Whole Foods. We are the fastest growing ketchup in the U.S., and the #1 non-private label brand in the Kroger NF Condiment category. In 2020, our top line sales grew 120% YoY. Our grocery sales grew 175% YoY.

In 2021, we launched food service sales on the back of a three year exclusive contract with the Boston Red Sox. In 2020, Food Service sales were 2% of total sales (YTD). And in 2021, Food Service sales are now 10% of total sales in 2021 (YTD through 30APR21), and the majority of growth to come in H2, when our $ sales from retail usually dip because of seasonality. Our baseball contracts speak to our potential to be the next iconic American food brand.

Over $1M in sales YTD as of MAY 1st , 2021

We have already broken $1M in sales for the year (2021) and have seen record sales months in March and April. We are now the fastest growing ketchup brand in the United States. 

True Made Foods is coming out of the COVID-era stronger than almost all brands our size.

Our success this year speaks to the strength of our business, the wide appeal of our brand, and our potential for extreme growth. Our brand and products are approachable and can compete with conventional brands on taste. We see success in both natural channels like Whole Foods and Sprouts and conventional channels like Kroger and Safeway. 

Customers


We can replace Heinz

We asked over 6,000 moms to try our ketchup, and here’s what
they said:

Since sampling, 80% of these moms started purchasing our ketchup and 54% bought other True Made Foods products.
The #1 reason for not purchasing was that they “could not find the ketchup” in their favorite store. We found that 87% of these moms were Heinz purchasers before trying True Made Foods.

Our incredible repurchase rate and high ratings among our core demographic, plus our adoption by mainstream outlets like the Boston Red Sox, suggest our ability to be a true disruptor on shelf. 

Business model


Successful retail model and growing online presence

We employ a traditional CPG business model, using distributors and selling direct to larger chains like Kroger and Walmart. We are also developing our online channels, and plan to significantly increase online sales in 2021 as we partner with a national micro-fulfillment agency. Lastly, as mentioned before, we are using the Red Sox contract to launch into food service, which, traditionally, is twice the size of the retail market for condiments. 

Gross Margins (YTD 2020)

  • average product margin is 42%
  • average gross margin after shipping/handling is 36%
  • average net margin after trade spend is 18%
  • We reduced our packaging cost on our ketchup by 50% from 2019 to 2020
  • We currently spend 20% on trade spend annually 
  • We expect to see gross margins (after s/h) grow to +40% in 2021 through lower toll and packaging costs and higher volume shipping (creating lower costs per product).
  • Freight is currently 5% of total sales, our goal is 2-3%
  • We also expect to see trade spend decrease as a % of total sales as we grow. More mature companies in our categories spend approximately 10% annually on trade spend.

Market


We’re taking over a $30B global condiment market

Like many food categories, the future of condiments is moving towards healthy, sugar-free alternatives. 

We plan to use the capital raised here to help us expand into food service in the second-half of 2021. The food service condiment space is three times the size of the retail market in the United States. And, we believe it acts as an ideal marketing platform for our products, because our brand is so exposed as a front-of-the-house category.

In retail, we are currently experiencing 100%+ year-over-year growth and we have been able to earn over $5MM in gross sales in four years on the market. Our velocities are increasing monthly. In Kroger and Whole Foods, our velocities have steadily increased since launch. 

Graph below is weekly scanned unit sales in Kroger Banners since our in-store launch from May 2020 to Feb 2021. 

Competition


No one does what we do

True Made Foods is healthier than the “healthy” brands, better tasting than the conventional brands, and a truly authentic brand with wide appeal.

Some of America’s favorite condiments are also some of the biggest sources of hidden sugar. But unfortunately, if you have kids, these condiments are staples at dinner and family cookouts.

Our mission is simple: help busy families cut refined and artificial sweeteners out, and pour on veggie-fueled goodness instead.  

Our resilience and increased sales growth during COVID above the category, demonstrates our wide appeal and approachable branding. We are America’s Ketchup.

Vision and strategy


Remaking it right

We are out to create a world where people can enjoy their favorite foods, guilt-free and without compromise. 

We started by revolutionizing America’s favorite iconic condiments with the sweetness of real fruits and vegetables instead of sugar. Now there’s no negotiation or compromise at the dinner table, the backyard barbecue, or the ballpark, just extra veggies hidden in crave-able goodness.

We want to be the next great American food company and completely take over the categories we are currently operating in.

But in the short-term, our goal is to grow True Made Foods to +$10MM in annual sales in the next two years (by EOY 2022) and +$100MM in annual sales by 2026. 

Our strategic plan is to focus on distribution and velocity growth in conventional and natural grocery channels in 2021 and 2022, while also expanding into food service. 

We plan to close contracts with 10x colleges and universities by the end of 2021. 

In 2021, we launched 1,000 new placements in banners like Safeway, Stop & Shop and Harris Teeter.  In 2022, we plan to expand into Target, HEB and Publix.

In 2023, we plan to expand into club channels (e.g. Costco).

We also plan to use True Made Foods as a brand platform and expand into complimentary categories once we are established in our current categories and over $10MM in sales. 

Funding


We’ve raised $2.3M in funding to date

We are seeking growth capital to help us further scale our business. Capital raised here on Republic will be used to increase our marketing budget and help us build food service sales on the back of our Red Sox contract. In 2020, we grew year-on-year velocities ($ sales per store) by 40% without any marketing budget. Imagine what we could do with your support.

Our other prominent investors include SOSV, Siddhi Capital,
Black Jay Investments, Veteran Capital, and the New York Angels. We are also supported by the FOOD-X accelerator.

Founders


Meet Abe.

True Made Foods was founded by Abe Kamarck, a Navy Veteran and father of four. Abe and his wife are both Veterans and former athletes, and they knew the importance of their kids eating healthy veggies and avoiding sugar. However, one product persisted to be part of their weekly dinners: ketchup. Abe was not a fan of ketchup, knowing it had more sugar per ounce than ice cream, but he couldn’t get his kids to give it up... so, he made a better one.

Abe had grown up making pasta sauce with his Sicilian mother who always used carrots as the sweetener. He wondered—couldn't that process also work for ketchup? Turns out, it does.

Meet our Pitmaster.

Known as “The Pitmaster” in barbecue circles, Ed Mitchell has been cooking traditional whole-hog barbecue since he was a teenager in Wilson, NC. When his father became ill, Ed returned to Wilson to help his mom in the family store. By accident they started selling their family-recipe whole hog BBQ and ended up launching a BBQ revolution. The Southern Food Alliance hailed Ed's 'Cue as the most authentic in the South. And in 2000, Peter Kaminsky, author of Pig Perfect, introduced Ed to the superior taste of free-ranging pigs raised on traditional foods. Ed was convinced that this was the taste of his youth he’d been searching for, and worked with local Universities to encourage the growth of pasture raised hogs. In 2017, Ed and his son, Ryan, turned down larger food brands to partner with True Made Foods, because as a pre-diabetic, Ed became concerned with the amount of sugar that has leaked into our diets and how it was affecting his community and Ryan, a former college athlete, believed in the mission of turning BBQ into a superfood. Ed and Abe are both veterans and both share a passion for better food and the preservation of our culinary traditions.

Deal terms


Valuation cap

$11,000,000

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

Discount

10%

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

Minimum investment

$150

The smallest investment amount that True Made Foods is accepting.
Learn more

Funding goal

$1.07M

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

Deadline
True Made Foods 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 True Made Foods, Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
True Made Foods Crowd SAFE

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in True Made Foods.
Invest
$100
Receive
  • Pack of Free Bottle Coupons
Invest
$500
Receive
  • Pack of Free Bottle Coupons
  • True Made Foods T-Shirt
Invest
$1,000
Receive
  • Pack of Free Bottle Coupons
  • True Made Foods T-Shirt
  • Pitmaster Trucker Cap
Invest
$5,000
Receive
  • Pack of Free Bottle Coupons
  • True Made Foods T-Shirt
  • "Pitmaster" Trucker Cap
  • BBQ Meal for four from the Legendary Pitmaster Ed Mitchell mailed to you via GoldBelly
Invest
$10,000
Receive
  • Pack of Free Bottle Coupons
  • True Made Foods T-Shirt
  • "Pitmaster" Trucker Cap
  • BBQ Meal for eight from the Legendary Pitmaster Ed Mitchell mailed to you via GoldBelly.
Invest
$25,000
Receive
  • Pack of Free Bottle Coupons
  • True Made Foods T-Shirt
  • "Pitmaster" Trucker Cap
  • BBQ Meal for eight from the Legendary Pitmaster Ed Mitchell mailed to you via GoldBelly
  • 2x Boston Red Sox Tickets for one (1) game
Invest
$50,000
Receive
  • Pack of Free Bottle Coupons
  • True Made Foods T-Shirt
  • "Pitmaster" Trucker Cap
  • BBQ Meal for eight from the Legendary Pitmaster Ed Mitchell mailed to you or in-person
  • 4x Boston Red Sox Tickets for one (1) game
Invest
$100,000
Receive
  • Pack of Free Bottle Coupons
  • True Made Foods T-Shirt
  • "Pitmaster" Trucker Cap
  • In-person catered BBQ Event (max 50 people) from the Legendary Pitmaster Ed Mitchell.
  • 10x Boston Red Sox Tickets for the 2021 or 2022 Season

About True Made Foods

Legal Name
True Made Foods, Inc.
Founded
Mar 2015
Form
Delaware Corporation
Employees
3
Website
truemadefoods.com
Social Media
Headquarters
Google Map location of of True Made Foods
5810 Kingstowne Center 120 , Alexandria, VA
Headquarters
5810 Kingstowne Center, 120, Alexandria, VA, United States 22315

True Made Foods Team
Everyone helping build True Made Foods, not limited to employees

Profile picture of Abraham Kamarck
Abraham Kamarck
CEO & Founder
Featured in Superheroes · Read
Abe is a former US Navy Helicopter Pilot and a London Business School MBA.
Profile picture of Ryan Mitchell
Ryan Mitchell
Co-Founder & Pitmaster
Ryan is the son of legendary Pitmaster Ed Mitchell.
Profile picture of Vanessa  Jaikaran
Vanessa Jaikaran
Dir. Field Marketing
Vanessa is a graduate of the Institute of Culinary Education and has over ten years food marketing experience.
Profile picture of Sherri Merrill
Sherri Merrill
Director of Operations
Sherri has over 20 years experience in Operations Management and came to True Made Foods from Bob's Red Mill.
Profile picture of Steven Finn
Steven Finn
Board Member
GP and Co-Founder at Siddhi Capital
Profile picture of Brian  Durst
Brian Durst
Board Member
CEO & President at Tribe9 Foods
3 more team members
Abraham Kamarck
CEO & Founder
Ryan Mitchell
Co-Founder & Pitmaster
Vanessa Jaikaran
Dir. Field Marketing
Sherri Merrill
Director of Operations
Steven Finn
Board Member
Brian Durst
Board Member

Press

The Best & Worst Ketchup on Grocery Store Shelves-Ranked!...
Eat This Not That Eat This Not That
·
Jul 28, 2021

There are few condiments more popular than ketchup-in fact, Americans eat a whopping $800 million worth of ketchup each y...

How the Washington Nationals Will Avoid Using 5M Ketchup ...
Sustainable Brands Sustainable Brands
·
Apr 30, 2021

A smart, win-win, local partnership will enable the team to provide a combination of sustainable tech and healthier condi...

The 10 most innovative food companies of 2021
Fast Company Fast Company
·
Mar 9, 2021

Whether they are developing new products for grocery aisles or creating new marketplaces where shoppers might find them, ...

True Made Foods Rebrands, Launches Three New BBQ Sauces |...
NOSH NOSH
·
Feb 25, 2020

True Made Foods and their Pitmaster, the legendary Ed Mitchell, are ushering in a new era in BBQ. Their new BBQ Sauces an...

IRI's Diversity Program to Empower Minority- and Women-Ow...
Progressive Grocer Progressive Grocer

Partners include Ahold Delhaize, Kroger and Amazon

Nationals Park to offer True Made Foods condiments via Se...
Washington Business Journal Washington Business Journal

Alexandria's True Made Foods is chasing down more ballpark deals - the latest, on home field. The local startup, which ma...

Startups to Watch: True Made Foods - Washington Business ...
Washington Business Journal Washington Business Journal

Five-year-old bottled sauce maker True Made Foods closed 2020 with a three-year contract with the Boston Red Sox as the e...

Veteran-Owned True Made Foods to Donate 10% of Labor Day ...
Prnewswire Prnewswire

TYSONS, Va., Aug. 31, 2020 /PRNewswire/ -- True Made Foods, a veteran-owned business committed to making American food nu...

Fenway Park, Boston Red Sox deal signed for True Made Foo...
Washington Business Journal Washington Business Journal

Alexandria condiment startup True Made Foods just knocked a new revenue deal out of the park - and over the Green Monster...

Show all
Logo of True Made Foods

True Made Foods

True Made Foods successfully raised $759,187 from 1289 investors on May 1, 2022
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Clark, Lawrence, Lemuel, Chance, Suzie, and 1284 others invested. 269 Reviews
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