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HGP – Leader in Sustainable Thermal Packaging Solutions, TemperPack Raises $22.5M to Expand Business and Engineer New Products in Response to Increased Demand
RICHMOND, Va., Jan. 10, 2019 /PRNewswire/ — TemperPack, the leader in sustainable thermal packaging solutions, announced that it has raised $22.5 million in Series B financing led by Revolution Growth, with other new investors Harbert Growth Partners, Arborview Capital and Tao Capital Partners, and with existing investor SJF Ventures also participating in the round. With the new financing, Todd Klein, Partner at Revolution Growth, and Brian Carney, General Partner at Harbert Growth Partners, will join the board.
TemperPack engineers, manufactures and distributes sustainable packaging products that replace single use plastics, such as Styrofoam®, with proprietary bio-based materials. Founded in 2015 by James McGoff, Brian Powers and Charles Vincent, TemperPack has grown rapidly in pursuit of its mission to reduce the amount of unsustainable packaging driven by the rise of e-commerce food and life science cold chain logistics. In addition to being harmful to the environment, packaging waste represents one-third of all municipal trash and costs local governments billions of dollars to dispose of each year.
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