She overcame funding obstacles to create the company that was inspired by her daughter who was diagnosed with severe food allergies.
Partake Foods founder Denise Woodard is an example for other women of color who want to start and grow a business.
The Black Korean-American entrepreneur created a snack for people with food allergies after overcoming obstacles in venture capitalism. The snack company Partake Foods is a leading brand in the highly sought-after consumer packaged goods (CPG), according to Forbes.
According to the outlet, Woodard’s daughter, who was diagnosed with severe food allergies in the summer of 2016, was the inspiration behind the company. The mother and business owner said, “At the time, my now eight-year-old daughter was one and had been recently diagnosed with allergies to tree nuts, eggs, corn, and bananas.”
“I was anxious, scared, and frustrated with the existing options. I felt there were some gaps from a taste and nutritional perspective.” Woodard said of her struggles to find options to suit her daughter’s dietary restrictions.
Woodard was a national sales director for Venturing and Emerging Brands at the Coca-Cola Company. She began establishing Partake Foods while managing her full-time job. The entrepreneur left Coca-Cola in August 2017 and launched her company for people with food allergies.
Partake Foods has grown significantly since 2017. The company went from having products in 50 stores to more than 12,000 stores across the U.S. Woodard’s products can be found in Kroger, Target, Walmart, Whole Foods and Amazon. Partake Foods has partnered with Ben & Jerry’s, DoubleTree by Hilton and American Airlines.
Woodard said she overcame several challenges when raising money to grow the company.
“I’ve been told ‘no’ a lot along the way. So funding has been a big challenge,” she said.
“I’ve been very deliberate in how I’ve raised capital and who I’ve raised capital from, as well as in the composition of our board of directors.” The business owner added, “Our investor base is predominantly people of color.”
“We’ve raised over $20 million of outside capital.”
Investors include Black Star Fund, Bobby Wagner, CAST US Fund, CircleUp Growth Partners, Fearless Fund, FF2032, Jay-Z’s Marcy Venture Partners, John Foraker, Kevin Johnson’s Black Capital and Rihanna.
Partake Foods maintains a healthy culture for its customers and employees. The company has 17 remote employees and continues to uphold its values for elite customer and employee experiences by offering 15-minute weekly meetings for employees to discuss personal and professional matters and 15-minute weekly coffee chats.
The company is also focused on mentorship and combating food insecurity.
When Woodard launched the company, she admitted there were gaps in her industry knowledge. She had to do her own research and reach out to others for resources and help. She credits her success to mentorship and advocacy. She told BLACK ENTERPRISE, “I don’t think we’d be here today if people hadn’t been willing to help me,” in the “Owning Your Niche” episode of Sisters Inc. on December 22, 2021.
The owner of Partake Foods says the company aims to create an inclusive and equitable future. Partake Foods launched a fellowship program to help increase diversity in the food industry while “working to eradicate childhood food insecurity.” The Black Futures Fellowship nonprofit provides HBCU students with paid internships at CPG food and beverage companies.