Smash Foods raises $18M Series B led by L Catterton, marking sharp valuation step-up

What's the deal? Smash Foods, the maker of low-sugar fruit spreads and Jammy Protein Bites, has closed an $18 million Series B led by consumer growth firm L CattertonDealroom has a profile for this one. Try Dealroom →. The Family FundDealroom has a profile for this one. Try Dealroom → and Eclair Ventures also contributed to the round for the company, co-founded by Anna Peck and Steven Ford.

Why now? Smash Foods has more than tripled its business over the past year, surpassed 10,000 stores nationwide, and driven past profitability. The round marks a significant markup to its 2025 Series A valuation.

What's the endgame? The company began with homemade chia-fortified fruit spreads before launching its Jammy Protein Bites in 2024 — nut butter snacks filled with the same fruit spread. The new funding will scale manufacturing for the Bites line, develop new products, and build Smash Foods into a leading American grocery brand.

Evan Einstein, a partner at L Catterton who joins the board, said the velocity behind the brand stood out. "The velocity that this brand has generated without almost any awareness behind marketing is some of the best that we've seen," he said.

The signal: Smash Foods is betting that a decades-stale jam category has room for innovation, and its investors are backing rapid, low-marketing growth in health-focused packaged foods. "We didn't come into this to build a big business," Peck said. "We came into it for the love of the product."

Read more: Forbes