Bobo’s has pulled some fresh dough out of the oven.
The Boulder-based maker of oat bars and other healthy snacks closed on a $5.5 million funding round this month, as the brand looks to diversify its products and expand capacity at its new Loveland production facility, according to a press release.
The funds set to be poured into the 20,000-square-foot facility “will be instrumental in allowing the brand to properly scale production of their oat-based products,” the press release said. Bobo’s began production at the Loveland warehouse, located at 1510 E. 11th St., in January.
The company said it grew 70 percent in 2017 and 45 percent in 2018, per the release. It expects to grow another 40 percent this year.
Beryl Stafford launched Bobo’s in 2003 as a local purveyor of four-ingredient baked oat bars, made with whole cane sugar, brown rice syrup, coconut oil and oats. The brand now offers 19 kinds of oat bars, four varieties of stuffed oat bars, 12 flavors of bite-sized oat balls and an assortment of toaster pastries, per its website.
Forbes reported last year that in its early days, the brand “benefited from being early on several trends, including non-GMO, vegan and gluten-free ingredients, as well as the growing interest in homemade and artisanal products.”
The Coloradan reported in January that the company is now bringing in $25 million in annual sales, selling nationally in large chains such as Whole Foods, King Soopers, Safeway and Target, as well as online. On its website, Bobo’s oat bars sell in packs of six or 12 for about $15 and $30, respectively.
The company, based at 6325 Gunpark Drive in Boulder, disclosed its most recent round in a July 24 SEC filing. Eight investors participated in the round, led by Boulder Food Group, a venture capital fund that invests in early-stage food and beverage consumer product companies, per the press release. Existing investors Ridgeline Ventures and BIGR Ventures also partook in the round.