Terms of the investment were not disclosed. Several professional athletes including NFL quarterback Joe Burrow and professional tennis player and US Open champion Sloane Stephens participated in the investment. P/Co joins existing investor L Catterton, which acquired Kodiak Cakes last year.
Joel Clark, CEO of Kodiak Cakes, commented that the investment taps into an influential crowd of professional athletes who are squarely in line with the company's mission of inspiring healthy eating and active living.
"Each of these investors is hungry for excellence and always working to improve their performance. And with the proper nutrition, they can compete at the highest level and conquer their own frontiers – inspiring their fans and our consumers along the way," said Clark, who has grown Kodiak Cakes' portfolio to include products across multiple segments including flapjack and waffle mixes, baking mixes, frozen toaster waffles, and on-the-go cups and snacks.
Travis Kelce, investor and tight end for the NFL's Kansas City Chiefs, commented, "I've been a fan of Kodiak products for a long time and am excited to officially collaborate with the brand. Their cakes are high-protein, whole grain, and taste great. I'm looking forward to working with the Kodiak team and collectively bring the brand to even more consumers."
In addition to the investment, P/Co will work with Kodiak to create an Athlete Advisory Council, facilitating quarterly meetings between the athlete investors and C-level executives to co-create new food products, marketing campaigns, and sustainability initiatives.