Snacking brand Clio Snacks announced the close of an USD8m funding round led by long-term investment partner Alliance Consumer Growth (ACG). AF Ventures, a leading venture capital fund, also participated in the round.
The announcement comes as Clio experienced over 100% growth vs. prior year. The brand saw a 57% growth in distribution, which included expansion deals with retail partners such as Whole Foods, Target, and Wegmans. Additional growth was seen in same store sales with existing partners, including Walmart and Costco. Clio Snacks was founded in 2015 and introduced the world’s first mass-market Greek yogurt bar. Today, Clio offers on-the-go Greek yogurt bars in a variety of sweet and tart flavors made with whole milk Greek yogurt and wrapped in dark chocolate.
“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.