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Parmela Creamery receives $1 million investment

24 Jun 2019

Parmela Creamery has raised over $1 million in a Series Seed financing round led by 25Madison. Other investors include Gather Ventures and Luke Abbott.

The investment will enable Parmela to implement its vision of becoming the brand most known for making plant-based dairy the world's first option.

Parmela will also utilize the funds to fuel growth, further strengthen brand awareness and support ongoing innovation.

Since launching in 2014, Parmela says it has grown rapidly due to its superior tasting cheese and nutritional content. Parmela's products are available in thousands of stores including Publix Super Markets, Whole Foods Markets, Wegman's and other leading retailers. Unlike other cheese alternatives, Parmela says that it uses traditional culturing and aging as part of its cheese making process and that allows its cheeses to develop their authentic, rich and creamy flavours, appealing to vegetarians, flexitarians, plant-based consumers and everybody who enjoys healthier options.

"25Madison and Gather Ventures are a perfect match for Parmela," said Ry Salomone, Co-Founder of Parmela. "Their deep knowledge in the food space, serious appreciation for innovative plant-based foods and extensive industry network greatly impressed me. Our vision at Parmela is to honor the heritage of traditional cheese making while supporting a healthier, sustainable future. These visionary partners offer the operating experience and deep connections to help deliver on this vision at scale."

"The plant-based foods industry is seeing tremendous growth," said Steven Price, CEO and Co-Founder of 25Madison. "Parmela will be a national leader in the plant-based cheese category by continuing to focus on its craft process, superior ingredients and sustainability. We are thrilled to partner with Ry, Co-Founder Laurice and the Parmela team to accelerate their next phase of growth."