Clio Snacks, a Piscataway-based a maker of Greek yogurt bars and other fresh snack foods, announced on Tuesday it has closed an $8 million funding round led by investment partner Alliance Consumer Growth with participation from venture capital fund AF Ventures.
“People try Clio because of its functional attributes, but come back again and again because it tastes so delicious. Clio has disrupted the refrigerated bar and yogurt categories by bringing in new consumers for an indulgent snack or dessert occasion,” Heather Cox, president at Clio Snacks, said.
Clio said it grew by 100% compared to last year. The brand said it also saw its distribution grow by more than 57%, which included expansion deals with retail partners including Whole Foods, Target, Wegmans, Walmart and Costco.
“Clio is at the forefront of the healthier snacking movement with its unique and creative snacking options. The brand has found the perfect balance between indulgence and better-for-you consumption, which is evidenced by its impressive growth in terms of distribution and performance on-shelf. We are thrilled to support Clio’s continued growth and look forward to seeing the company evolve as a leader in the fresh snacking category,” Julian Steinberg, co-founder and managing partner at ACG, said.
“Offering families a better-for-you, yet indulgent, convenient snacking solution in the now-present grab-and-stay consumption environment, our network of partners are uniquely qualified to support the expansion of Clio’s cold-chain footprint as we grow the company to be the independent leader in quality, refrigerated snacking,” Jordan Gaspar, president and managing partner of AF Ventures, said. “We couldn’t be prouder to welcome this impressive team into the AF family of brands.”