Nutritional company Oats Overnight secures more than $20m in Series A

US-based nutritional company Oats Overnight has secured more than $20 million in a Series A funding round.

Oats Overnight plans to use the proceeds from the round to increase its retail channel and bring customers directly into the product development process.

The company will also use the capital to construct a new 85,000 sq ft production and fulfillment center in Phoenix, Arizona.

Furthermore, the new investment will help Oats Overnight build the sales team, including the addition of a VP of Sales.

The Series A funding round saw participation from Singh Capital Partners, Impatient Ventures, BFG Partners, Morrison Seger Venture Capital Partners, Watchfire Ventures, Access Capital, Vanterra Ventures, and Pure Ventures.

Under its product development process, Oats Overnight will prelaunch a new flavor with more than 100,000 active subscribers and the research and development (R&D) team will communicate with customers directly to get very vocal feedback from the community, both positive and negative.

Oats Overnight said the most popular flavors are released with tweaks just three months after the extensive survey results are matched.

Nutritional company Oats Overnight secures more than $20m in Series A. Photo courtesy of PRNewswire/Oats Overnight.

Brian Tate — Oats Overnight Founder and CEO said: “We will use this capital to significantly expand into the retail channel and continue to evolve our community-led product development process.

“Our customers debate it all in our private Facebook group, averaging over 1,000 comments per day.”

Founded in 2016, Oats Overnight offers a spoon free, high protein oatmeal that is prepared at night and ready when consumers wake up.

Oats Overnight, with a 250-person team, is on more than $100 million gross revenue run rate.

The company has created more than 35 flavors to date, with an owned manufacturing operation in Arizona.

Oats Overnight products are available at a wide range of stores, including Whole Foods, Meijer, Wegmans, HEB, and Walmart.