How a College Student's Classroom Assignment Turned Into a Business With $14.5 Million in Funding

The company claims its mission is to end hunger.

By Gary Bredow • Jan 21, 2020

Opinions expressed by Entrepreneur contributors are their own.

In 2015, a college student realized vast quantities of high-quality and over-supplied food went to the dumpster at his local supermarket every day. So, he partnered with his college mentor, Patrick Bultema, who raised $500,000 from family and friends to co-found a company with the mission to rescue this lost food and find a market for it.

Within a year, FoodMaven had 22 employees, serviced 120 restaurants and begins expansion into the Denver market. FoodMaven then announced a strategic partnership with Hilton Hotels and brought on a new CEO, Ben Deda. In 2019, FoodMaven closed a Series B round, bringing its total funding since the Series A to $14.5 million.

Gary Bredow

Host

Join host Gary Bredow as he travels around the country interviewing over 26 small business owners to hear their personal stories and find out what it really takes to start a successful business from the ground up. Energetic, inspirational and educational, Start Up is a fast paced new series sure to capture the imagination and hearts of the nearly 50 percent of Americans who dream of starting their own business.

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.

The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy

After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.

6 Questions to Ask Before You Begin Your Franchise Search

Having Trouble Speaking Up in Meetings? Try This Strategy.

He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game

Most Popular

See all

Business News

These Are the Most and Least Affordable Places to Retire in The U.S.

The Northeast and West Coast are the least affordable, while areas in the Mountain State region tend to be ideal for retirees on a budget.

By Madeline Garfinkle

Thought Leaders

The Collapse of Credit Suisse: A Cautionary Tale of Resistance to Hybrid Work

This cautionary tale serves as a reminder for business leaders to adapt to the changing world of work and prioritize their workforce's needs and preferences.

By Gleb Tsipursky

Health & Wellness

5 Essential Steps to Expand Your Vision and Start Living Your Dream Life

It's time to break free from your comfort zone and expand your vision. When you refuse to settle for a mediocre life, you can start building a life you love.

By Stacey Stratton