Arch Grants Awards $400,000 to Four Portfolio Companies in Fall Growth Grants Cycle
St. Louis, MO, December 15, 2021 --(PR.com)-- Arch Grants has officially awarded $400,000 in non-dilutive grants to four of its portfolio companies through its Growth Grants program. The list of companies includes Big Heart Tea Co., Native Pet, Rebundle and Swipesum. Earlier this spring, Arch Grants awarded $200,000 to two additional portfolio companies – Provider Pool and GiftAMeal.
Each company has been awarded $100,000 in Growth Grants funds, which must be matched at least two to one by outside funds (equity investments, debt, other grants and/or convertible notes). Here is additional information on the four new recipients of the Growth Grants program:
- Big Heart Tea Co., a 2018 Cohort Company, is a woman-owned company that makes tasty, sustainable tea using only whole ingredients.
- Native Pet, a 2020 Cohort Company, is a pet nutrition and supplements company that is reimagining pet nutrition for a new generation of pet parents.
- Rebundle, a 2020 Cohort Company, is a beauty brand that produces plant-based hair extensions and facilitates a recycling program for plastic synthetic hair.
- Swipesum, a 2018 Cohort Company, is a payments-technology firm that helps any business accepting credit or debit cards find the best solution at the best rate.
“The Growth Grant will help us increase our sales outreach by allowing us to present at costly trade shows, hire for our sales staff and improve our website’s user experience for sales growth,” said Lisa Govro, Founder and CEO of Big Heart Tea Co. “We’re a St. Louis company and will continue to grow here.”
“We moved back to St. Louis in 2019 and Arch Grants has been critical in navigating the St. Louis community,” said Daniel Schaefer, CEO and Co-Founder of Native Pet. “We are raising our Series A financing round in tandem with our Growth Grant. We plan to scale into new sales channels, hire new employees and invest in marketing and branding.”
“Arch Grants has provided a strong foundation for our business in St. Louis and has aided our success,” said Ciara Imani May, Founder and CEO of Rebundle. “We're excited to expand our reach and impact in the city with the addition of the Growth Grant and know that we can provide greater opportunities with a larger manufacturing facility.”
“We are focused on creating a sustainable business that continues to scale at a fast pace,” said Michael Seaman, Co-Founder and CEO of Swipesum. “With our projections, this Growth Grant will fund software development along with a few revenue-generating positions at Swipesum. Following this raise, we forecast it's the last time we will need outside funding to achieve our growth goals.”
The Growth Grants program was launched in 2021 to provide follow-on funding to help Arch Grants Companies that have demonstrated success to hire talent and scale in St. Louis. Any Arch Grants Company that is still operating in St. Louis is eligible to apply, and if awarded, must commit to remaining in St. Louis for at least two years. Companies are eligible to apply twice a year (spring and fall rounds) and each Arch Grants Company is only eligible to receive one Growth Grant. Applicants are evaluated by an external panel of 15 to 25 volunteer judges with a wide breadth of expertise.
About Arch Grants
As a 501(c)(3) nonprofit, Arch Grants' mission is to transform the economy in St. Louis by attracting and retaining extraordinary entrepreneurs. Since 2012, Arch Grants has awarded more than $11 million in cash grants to attract or retain 207 early-stage businesses in St. Louis, invigorating the city's startup scene with new talent and ideas and helping to shape the future economy of the region. Of the total cash grants, more than $10 million has been awarded through Arch Grants’ annual Startup Competition and $600,000 has been awarded in in non-dilutive grants through Growth Grants. Through its program, Arch Grants' portfolio companies have gone on to create over 2,300 jobs in the St. Louis region, generate over $479 million in revenue and attract over $411 million in follow-on capital. To learn more, please visit our website at archgrants.org and follow us on LinkedIn, Facebook and Twitter.
Each company has been awarded $100,000 in Growth Grants funds, which must be matched at least two to one by outside funds (equity investments, debt, other grants and/or convertible notes). Here is additional information on the four new recipients of the Growth Grants program:
- Big Heart Tea Co., a 2018 Cohort Company, is a woman-owned company that makes tasty, sustainable tea using only whole ingredients.
- Native Pet, a 2020 Cohort Company, is a pet nutrition and supplements company that is reimagining pet nutrition for a new generation of pet parents.
- Rebundle, a 2020 Cohort Company, is a beauty brand that produces plant-based hair extensions and facilitates a recycling program for plastic synthetic hair.
- Swipesum, a 2018 Cohort Company, is a payments-technology firm that helps any business accepting credit or debit cards find the best solution at the best rate.
“The Growth Grant will help us increase our sales outreach by allowing us to present at costly trade shows, hire for our sales staff and improve our website’s user experience for sales growth,” said Lisa Govro, Founder and CEO of Big Heart Tea Co. “We’re a St. Louis company and will continue to grow here.”
“We moved back to St. Louis in 2019 and Arch Grants has been critical in navigating the St. Louis community,” said Daniel Schaefer, CEO and Co-Founder of Native Pet. “We are raising our Series A financing round in tandem with our Growth Grant. We plan to scale into new sales channels, hire new employees and invest in marketing and branding.”
“Arch Grants has provided a strong foundation for our business in St. Louis and has aided our success,” said Ciara Imani May, Founder and CEO of Rebundle. “We're excited to expand our reach and impact in the city with the addition of the Growth Grant and know that we can provide greater opportunities with a larger manufacturing facility.”
“We are focused on creating a sustainable business that continues to scale at a fast pace,” said Michael Seaman, Co-Founder and CEO of Swipesum. “With our projections, this Growth Grant will fund software development along with a few revenue-generating positions at Swipesum. Following this raise, we forecast it's the last time we will need outside funding to achieve our growth goals.”
The Growth Grants program was launched in 2021 to provide follow-on funding to help Arch Grants Companies that have demonstrated success to hire talent and scale in St. Louis. Any Arch Grants Company that is still operating in St. Louis is eligible to apply, and if awarded, must commit to remaining in St. Louis for at least two years. Companies are eligible to apply twice a year (spring and fall rounds) and each Arch Grants Company is only eligible to receive one Growth Grant. Applicants are evaluated by an external panel of 15 to 25 volunteer judges with a wide breadth of expertise.
About Arch Grants
As a 501(c)(3) nonprofit, Arch Grants' mission is to transform the economy in St. Louis by attracting and retaining extraordinary entrepreneurs. Since 2012, Arch Grants has awarded more than $11 million in cash grants to attract or retain 207 early-stage businesses in St. Louis, invigorating the city's startup scene with new talent and ideas and helping to shape the future economy of the region. Of the total cash grants, more than $10 million has been awarded through Arch Grants’ annual Startup Competition and $600,000 has been awarded in in non-dilutive grants through Growth Grants. Through its program, Arch Grants' portfolio companies have gone on to create over 2,300 jobs in the St. Louis region, generate over $479 million in revenue and attract over $411 million in follow-on capital. To learn more, please visit our website at archgrants.org and follow us on LinkedIn, Facebook and Twitter.
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Arch Grants
Andy Painter
314-272-4857
https://archgrants.org
Andy Painter
314-272-4857
https://archgrants.org
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