TemperPack to expand sustainable packaging operations
TemperPack currently serves over 40 customers, including meal kit and grocery e-commerce sectors.
TemperPack announced plans to expand its Richmond, Va., headquarters operations. SJF Ventures, Durham, N.C., led the $10 million fundraising round, joined by New York-based Interplay Ventures, Third Prime Capital, New York, and Dolik Ventures, also based in New York. Robert Beckler, former president of packaging at WestRock Co., Norcross, Ga., also participated in the round, and will be joining the board as executive chairman.
"E-commerce is driving revolutionary change in the way consumers experience brands,” adds Beckler. “Increasingly, packaging influences this consumer experience in a lasting way. TemperPack has tapped directly into this market trend, by providing its customers with a unique suite of insulating products that are not only great for the environment, but [also] significantly enhance the brand experience."
TemperPack currently serves over 40 customers, including meal kit and grocery e-commerce sectors.
"We are excited to be partnering with SJF and the other syndicate partners in this next phase of growth for the company. TemperPack grew sales more than 500% in 2016, and the company is now ready to bring in outside capital to help meet growing customer and market needs for disruptive packaging and insulation products," says Brian Powers, co-founder and co-CEO of TemperPack. "SJF Ventures, a leading impact investment fund, is highly aligned with our commitment to sustainability and environmental stewardship."
"TemperPack addresses a core pain point for the e-commerce sector today," says Cody Nystrom, managing director of SJF Ventures. "Their products replace environmentally-damaging materials such as styrofoam and other petroleum-derived insulation with a suite of proprietary, temperature-controlled products proven durable, safe and cost-efficient. TemperPack stood out as a highly innovative company purpose-built to compete effectively against the existing, uninspiring insulation solutions. The company refutes perceptions that 'green' should require meaningful trade-offs in effectiveness or price."
Nystrom will also be joining the board of directors.
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
