Hero Bread closes on $21 million financing round

Hero Bread has closed on a $21 million financing round, co-led by Cleveland Avenue, DNS Capital and Composite Ventures and participation from existing investor Greatpoint Ventures. Hero Bread has more than $68.5 million in total funding to date, according to the company.

Founded in 2022, Hero Bread bakes artisanal bread, croissants, biscuits and tortillas.

Hero Bread said it plans to use the new funds to build out its distribution, invest in current retail partners and product innovation.

 “Launched in retail and on Hero.co just over a year ago, we have verified the consumer love and loyalty to Hero Bread products,” said YuChiang Cheng, chief executive officer of Hero Bread. “Hero Bread has shown supreme customer satisfaction and high repeat purchases in every channel, thanks to our products’ great taste and everyday functionality. This fundraise will enable us to better fulfill our mission to drive wellness from the plate up, gaining distribution and meeting the consumer where they want to shop.”

Harry Coaxum, managing partner at Cleveland Avenue, added, “Cleveland Avenue’s investment was spurred by the potential we discerned in both the brand and its products. Now, with an outstanding, world-class team propelling momentum across both retail and consumer landscapes, reinforcing our commitment by leading the Series B is a strategic imperative to further assert Hero Bread’s leadership in this transformative market segment.”