The Collaborative Welcomes Seasoned CEO and $7 Million in Funding from PowerPlant Ventures
The new investment will help fuel The Collaborative's rapid U.S. expansion and brand transformation with quality plant-based yogurt alternatives and desserts, proving great taste and plant-based can go together
LOS ANGELES, April 15, 2020 /PRNewswire/ -- Today, the fastest growing premium plant-based yogurt and dessert brand, The Collaborative (previously The Coconut Collaborative) expands its leadership team with Meiky Tollman as the new CEO and announces a $7 million Series A investment from PowerPlant Ventures.
Tollman most recently served as the GM, COO, and EVP International for 15 years at Sabra Dipping Company. He is excited about joining an amazing team who is driving revolutionary category growth in the industry with premium, low sugar, non-GMO, gluten free, and plant-based products that deliver on taste, nutritional benefits, and sustainability.
"For me, coming to The Collaborative is motivating and inspiring to work with one of the fastest-growing category growth drivers of plant-based products on the market that is also purpose driven. I'm excited to join the team as we are committed to spreading plant-based moments of joy to America with a collaborative essence and good intentions, something that is very much needed today and will be needed tomorrow," said Meiky Tollman, CEO and board member of The Collaborative.
The Collaborative is also launching several exciting plant-based innovations which will triple their current lineup of offerings. Both lines are low in sugar, gluten-free, and non-GMO.
Plant-Based Desserts including Vanilla Rice Pudding, Double Chocolate Mousse, and Chocolate Pudding varieties.
The existing line of plant-based Yogurt Alternatives are being updated – with new size launches including 4.2oz, 7oz, and 12.3oz multi-serve available in Plain, Vanilla, Alphonso Mango & Passionfruit, and Blueberry & Rosemary varieties.
"Not only will this investment and partnership allow us to leverage the momentum of our growth, but also further expedite our expansion into more conventional and natural grocery channels. We are honored to have the support of one of the best plant-based food investment firms who sees and believes in our essence, mission, and vision," said Tollman.
"At PowerPlant we are constantly on the lookout for plant-based food brands that are providing an answer to consumer demands and challenging the status quo - The Collaborative is doing that as a remarkable brand with a premium breadth of products that combine wholesome goodness, great taste which is equivalent to or better than dairy alternatives, low sugar, and better-for-you ingredients," said Mark Rampolla, co-founder and partner of PowerPlant Ventures.
As a Los Angeles-based $165 million growth equity fund, PowerPlant provides capital, strategic support, and operating expertise to disruptive natural food brands delivering healthier options in more sustainable ways. PowerPlant's prior investments include Beyond Meat, Thrive Market, Rebbl, and more.
About The Collaborative
Founded in 2014 in the UK, The Collaborative works alongside Pur Project to give back and plant thousands of coconut trees in Southeast Asia. The line is available at select retailers nationwide and Amazon Fresh in May.