Turning passion into a food revolution.
Revolution Foods Case Study
Client Since: 2010
“Bridge Bank was flexible and supportive from the very beginning. They understood our working capital needs and the fact that lead times are very different for this kind of business. Ultimately, they truly wanted to help Revolution Foods grow.” ~Kristin Groos Richmond, Co-Founder and Chief Executive Officer and Kirsten Saenz Tobey, Co-Founder & Chief Impact Officer of Revolution Foods
Kristin Groos Richmond and Kirsten Saenz Tobey met in business school at University of California at Berkeley where they discovered they shared the entrepreneurial bug as well as a passion for healthy food and its associated positive benefits. This passion led them to speak to schools in their area and what they found is this: an alarming lack of access to healthy food for children.
And so Revolution Foods was born, a company with a noble mission: to build lifelong healthy eaters by making kid-inspired, chef crafted food accessible to all. They started providing fresh, high-quality meals to four schools in Oakland, and once the word got out, the phone started ringing off the hook. They began to expand, first to LA, then to Denver and Washington D.C., and then on to Houston and New Jersey.
Before Revolution Foods can expand into a new area, a large amount of infrastructure has to be developed; food suppliers, kitchens, and delivery fleets. And because most school meal programs are federally funded there is a significant delay in receivables from time of delivery. Long story short, Revolution Foods needed to raise a significant amount of capital long before they would be receiving payments of any kind.
Bridge Bank was excited to be a part of Revolution Food’s story. We provided them a line of credit that helped fuel their growth. Today Revolution Foods serves over 1.5 million meals weekly to children in schools and has developed a line of natural Meal Kits, available at grocers across the US.
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