Founded in 2015 by Cassandra Curtis and Ari Raz, Once Upon a Farm specializes in a variety of baby and children’s foods, including refrigerated pouches, oat bars, frozen meals, and pantry snacks.
In a notable move, John Foraker, the former CEO of US food group Annie’s—acquired by General Mills—joined the company as Chief Executive in 2017, assuming the role of co-founder.
The company’s products are strategically marketed through major US retailers such as Whole Foods, Kroger, Walmart, and Target, along with its direct-to-consumer channel.
In 2022, Once Upon a Farm secured $52 million in a Series D funding round, led by CAVU Venture Partners, with participation from existing investors S2G Ventures, Cambridge, and Beechwood.
Despite this investment, the company remains unprofitable.
For the fiscal year ending December 31, Once Upon a Farm reported a net loss of $23.8 million, an increase from a $17.6 million loss the prior year, according to SEC disclosures.
In the first half of 2025, by June 30, the company recorded a net loss of $28.5 million, compared to a $4.2 million loss during the same period last year.
Sales revenue in 2024 reached $156.8 million, up from $94.3 million in 2023. In the first half of 2025, sales climbed to $110.6 million, a rise from $65.8 million in the previous six months.
Operating losses also persisted.
Using external co-manufacturers, the company recorded an operating loss of $6.3 million last year, an improvement from a $15.3 million loss. However, in the first half of 2025, the operating losses rose to $9.2 million from $3.1 million.
The IPO registration document outlines various challenges the company faces. It states: “Uncertainty in the macroeconomic environment resulting from geopolitical and economic instability, including the imposition of potential tariffs, embargoes, or similar restrictions could cause disruption in our supply chain.”
Furthermore, it specifies: “In particular, tariffs or other barriers to trade affecting Mexico and South America, where we source a significant portion of our fruit and vegetable ingredients, could lead to shortages and higher cost of procurement.”
The company emphasized: “Any number of these challenges, and others, could have a negative impact on our business and performance.”
All products offered are organic, non-GMO, contain no added sugar, and are devoid of artificial flavors, colors, or preservatives. The company adds: “From baby’s first bites to kid’s school-ready snacks, we are a rapidly growing leader in modern childhood nutrition that provides innovative, nutrient-packed, delicious food to on-the-go parents for their babies and kids.”