Blue Apron — a company that delivers pre-portioned ingredients and recipes — is proving to be popular among investors. According to a press release, the company just closed on a $135 million round of funding. TechCrunch writes that this gives Blue Apron a $2 billion valuation. Blue Apron notes that it will use the new money to "scale its rapidly growing network of farms, suppliers, and fulfillment capabilities throughout the country."
The company has been on quite the growth spurt. In the last six months, Blue Apron has tripled the volume of boxes it ships. The start-up says that it delivers well over three million meals a month across the country. TechCrunch did the math and puts Blue Apron's yearly revenue at $360 million. Since launching in 2012, the company has managed to raise a total of $193 million in funding.
Blue Apron isn't the only food company with blue in its name to appeal to investors. California-based coffee roaster Blue Bottle announced last week that it raised $70 million in its most recent round of funding. So far, the company has managed to secure $116 million in investments and can count celebrities like actor Jared Leto and U2 front man Bono amongst its investors. Maybe all food companies should start putting blue in their names.