Its most recent Series B funding follows a $10m Series A funding round from last year. Stryve Biltong will use the new cash infusion to ramp up its marketing efforts, said Jaxie Alt, the brand's CMO appointed last month. RX Bar founder Peter Rahal has also joined the brand's board of directors.
Alt, who spent 17 years at Dr. Pepper Snapple Group previously, said that company's main marketing goal is to teach American consumers about what biltong is: an air-dried cured meat snack that originates from Southern Africa.
Stryve Biltong starts with with USDA-graded top round steak trimmed of fat, naturally preserved with vinegar and salt that's left to air dry for three weeks, and sliced “extra thin”.
Under Alt's marketing leadership, Stryve Biltong is taking a multi-pronged approach to marketing which includes digital media, an influencer strategy, and an extensive sampling program with hundreds of brand ambassadors across the country.
"We spend a lot of money on media and a lot of money on sampling to drive velocity and to drive trial," Alt said.
Since launching last year, Stryve Biltong can be found in 600 Walmart stores (soon to be 1,200) and will be entering the convenience channel with 7-Eleven as well as signing on for a test launch in Costco stores, according to Alt.
Its e-commerce business is also exploding, Alt said, with Amazon orders for its products growing exponentially.
"We’re really starting to see growth in every class of trade. That shows us the consumer demand is really there," she said.
'We see ourselves as clean protein'
According to Alt, the opportunity for Stryve is about more than cornering the rapidly expanding meat snacks category.
"We’re definitely a meat snack, but we also see ourselves as clean protein," Alt said. "It's also on trend with what people are looking for, which is, 'how do I snack better?'"
Strive Biltong products contain 1 gram of sugar, up to 36 grams of protein per serving, and are made with a handful of ingredients. Its line of products includes its original slice biltong in six flavors, biltong beef sticks (also available in a minis size), and a trail mix line.
Its low sugar content has been a huge draw for many consumers from keto followers to vigilant label readers, Alt said.
"[Keto] is something that's been really good for our business but we're also drawing in people that are just trying to cut down on sugar," she said.
"I think snacks are going to continue to get healthier and people are busier than ever, so that's where we're going to see growth."
“The past year has shown that there is a huge demand for clean protein snacks in the US, and we have assembled an experienced team of brand builders to help us shape the future of meat snacks and clean protein snacking with Stryve Biltong,” commented Stryve Biltong co-founder and chairman of the board, Ted Casey.
“We have an aligned strategy for growth and are rapidly moving to put all the pieces in place to achieve it.”