GoodSAM, a pioneering producer and distributor of regenerative agriculture-focused consumer products dedicated to empowering small farmers in emerging economies, announced today the successful first closing of its Series A financing round. ALIVE Ventures led the round with the additional participation of Desert Bloom, Connecticut Innovations, and other angel investors. A previous bridge round was anchored by One Small Planet through its endowment, the Peterffy Foundation, Kachuwa Impact Fund, and Generation-Re, a Regenerative Agriculture Investment Syndicate.
The infusion of capital positions GoodSAM to further scale its impactful and sustainable farming initiatives across Latin America. The funding will enable GoodSAM to expand its innovative direct trade model, which connects all stakeholders in the value network, eliminates intermediaries, and ensures fair conditions for smallholder farmers.
GoodSAM sources primarily from emerging economies, with a special focus on Latin America and Colombia, and currently offers over 35 SKUs, including nuts, cocoa, coffee, and fruits. The company’s commitment to sustainability and product quality is demonstrated through its rigorous audit process, which adheres to six Regenerative Agriculture Standards and six Social Responsibility Standards.
GoodSAM’s commitment to generating a positive impact is reflected in its unique and rigorous approach to supporting small farms and ensuring sound sustainability practices as they build a leading brand in the consumer sector. GoodSAM takes a holistic approach in its work with farmers, ensuring fair prices and emphasizing the development of local communities’ internal capacities to enhance production, income, and overall well-being. To date, the company has improved livelihoods for over 1,600 farmers, mostly from low-income populations, across its supply network in Colombia, Mexico, Peru, Chile, Bolivia, Northern California, Kenya, Burkina Faso, and Ghana,
The company addresses significant gaps in the value chain, including access to the US market and sourcing of organic and regenerative crops. In just four years, GoodSAM has achieved remarkable revenue growth and market penetration, led by partnerships with Whole Foods Market, Sprouts Farmers Market, Thrive Market, HungryRoot and more.
“At GoodSAM, our mission is to directly combat the broken food system that has been upheld for far too long and promote environmental stewardship through innovative practices, deep relationships with key partners including our farmers, and creating delicious snacks that consumers want to buy,” said Heather K. Terry, CEO and founder of GoodSAM. “Through this round of Series A funding we’re continuing to prove that regenerative agriculture is a positive disruption to destructive systems in place and that by prioritizing our supply network we cultivate a more resilient food system, transparent supply network, and healthier world. It also indicates a move toward a more sustainable and delicious future where food is beneficial for consumers and farmers alike.”
Virgilio Barco, Managing Partner at ALIVE, who will be joining GoodSAM’s board of directors added: "We are excited to support GoodSAM, a company that is helping smallholder farmers engaged in regenerative agriculture to access premium markets, thus driving prosperity and climate resilience in rural areas.”
About GoodSAM
Founded in 2019 by natural products industry veteran Heather K. Terry, GoodSAM P.B.C. is a B-Corp Certified snack and food brand on a mission. At GoodSAM, we’re dedicated to creating food that’s Good for You, Good for Farmers, and Good for the Planet. Building strong, meaningful connections with our supply networks, manufacturers, and smallholder and indigenous farming communities is at the heart of everything we do at GoodSAM. Our mission is rooted in regenerative farming practices, which help keep soil healthy and ensure that our farms can thrive for generations. When you choose GoodSAM, you can feel confident that you’re supporting a brand that genuinely cares about making a positive impact through its products. With every bite, you’re choosing food that reflects our commitment to sustainability and community. Through food, we care. For more information, please visit https://goodsamfoods.com.
About ALIVE Ventures
Acumen Latam Impact Ventures – ALIVE – is a new type of Latin American fund manager. A manager that places impact at centerstage. A manager that incorporates gender lens investing every step of the way. A manager that has built a climate smart investment approach to support communities prepare for, respond to, and recover from the effects of climate change. And finally, but equally important, a fund manager that seeks to provide attractive risk-adjusted returns to its investors. ALIVE currently has over USD 75 million in AUM and is the largest Andean Region venture capital investor. For more information, please visit www.alive-ventures.com.