# Fabalish 2021 Q3 Update | Fabalish

- Canonical URL: https://wefunder.com/feed/150248
- Entity ID: wefunder:feed_item:150248
- Published at: 2021-11-08 19:27:37 UTC
- Updated at: 2025-07-15 19:16:22 UTC

## Author
Paul Majcherczyk

## Subject
Fabalish

## Content
Jess and I are excited to share our latest progress with Fabalish!First off, we would like to invite you to attend an investor info session this Friday to discuss our fundraising efforts, overall progress, and to answer questions. The panel will include Jess and myself, as well as three of our key advisors/investors: Michael Costello, Andre Jacquet, and Vincent Biscaye.Friday November 12th, 3pm-4pm Eastern Time. Learn more and register here:https://www.eventbrite.com/e/fabalish-investor-webinar-tickets-204589391377We would love to have you join us!Q3 UpdateExecutive SummaryFabalish has achieved a $1M run-rate in revenue, and is on pace to nearly quadruple revenue from last year. This achievement is despite a number of challenges from the pandemic (e.g. labor shortages, supply chain delays), as well as drastic shifts in the marketplace (pivoting to online in 2020, and then back to retail in 2021). Fabalish has a robust sales pipeline going into 2022 (projecting $3M in revenue) and is significantly scaling its production to increase throughput and automation. We're on pace in fundraising our goal of $1M+ this year, having raised ~$720K to date.Revenue UpdateClosed Q3 with $250K (50% up from Q2), putting us at a $1M run rate.Aiming to achieve $1M TTM (trailing twelve months) by January 2022.Projected to close 2021 with ~$900K; ~4x growth over last year ($233K)Sales Pipeline UpdateOur current key accounts include: Hungryroot, Fresh Direct, Fairway, and several smaller chains (e.g. Erewhon, Greens, DeCiccos, Deans Natural market, Union Market, Matter of Health, MOMs Organic).We received the green light from Fresh Thyme (70 doors in the Midwest).Onboarding KeHE as a distributor, with Fresh Thyme as the anchor account. Our two primary distributors will be UNFI and KeHE, the two largest natural foods distributors in the US.In discussions with: Thrive Market; Whole Foods North East; Wegmans; Earth Fare; The Fresh Market; Kings/Balduccis; as well as key existing accounts Hungryroot and Fresh Direct (to carry more of our SKUs).Fundraising UpdateWe’ve raised $720K year to date for this convertible note round, with a goal of $1M.$410K raised privately$310K raised on WefunderThe plan is to close this round by January, and then to begin the priced round raise for 2022, with a goal of raising $2-3M on a ~$10M pre-money valuation. All issued SAFEs and Convertible Notes would convert to equity during this priced round.Other Key UpdatesOnboarding Allison Ackerman to lead the effort in rehashing our marketing foundation and building out our marketing strategy. Allison is an experienced marketer for emerging CPG food brands, and spent four years helping to grow Sir Kensington's from challenger brand through Unilever acquisition.We’re making drastic upgrades to our production capabilities. We’ve identified a dedicated facility, and we’re in the process of acquiring new equipment that will give us a 5x increase in overall throughput, as well as significantly automate our production processes (projecting an overall 40% reduction in labor costs).We had a successful showcase at Natural Foods Expo East, and were a finalist for a Nexty Award (one of the top awards in the industry).