Daily Harvest

Daily Harvest is a New York City company that sells frozen, single-serve plant-based foods, including smoothies, breakfast bowls and savory meals. It began as a subscription service shipping direct to consumers and now also sells through retailers. Rachel Drori, a former marketing executive, founded it in March 2015. When the Series B was announced at the end of 2017, the company had about 100,000 subscribers, most of them women.

In March 2016, Daily Harvest filed a Form D reporting $981,559 of equity sold. Fortune reported a Series A of undisclosed size in June 2017, with Gwyneth Paltrow, Serena Williams, WME Ventures, Collaborative Fund, 14W and Rubicon Venture Global taking part. In December 2017 it raised a $43 million Series B led by Lightspeed Venture Partners, with VMG Partners, M13, Bobby Flay, Haylie Duff and Shaun White also investing. In November 2021 Lone Pine Capital led a $77 million Series D, with Lightspeed participating, at a $1.1 billion valuation. The company's November 2021 Form D reports $76,999,930 sold. A further Form D filed in April 2024 reports $11.5 million sold, in a mix of equity, debt and options, against a $13 million offering.

In June 2022, Daily Harvest recalled its French Lentil + Leek Crumbles after more than 470 customers reported illness, some with liver dysfunction and some needing gallbladder removal. The company later named tara flour as the likely cause, and in 2024 the FDA declared tara flour unsafe. Settlements of the litigation approved $7.6 million for claimants in early 2025. After the recall the company moved toward retail, entering Kroger in 2023 and Target in May 2024. On May 16, 2025, Chobani acquired Daily Harvest on undisclosed terms. Drori stayed on as founder and executive chair. The brand also sells through Wegmans, Costco and its own website, and it has dropped its subscription-only model.

Daily Harvest followed a common pattern for direct-to-consumer brands in 2021. A crossover hedge fund, Lone Pine, set a unicorn valuation at the top of the market. A product safety failure and a shift toward retail followed, and the company was then sold to a strategic acquirer on terms that were never disclosed. Lightspeed and the 2017 angels came in at the Series A and B stage, about eight years before the Chobani exit. Because the price is private, how the exit compares with the $1.1 billion mark cannot be determined from public sources.