All-natural condiment brand Dr Will’s has smashed a £400k crowdfunding target as it looks to ramp up growth in the supermarkets.
Founded by Dr Will Breakey, Liam White and Josh Rose in 2015 to reduce the sugar in table sauces such as ketchup, mayo and BBQ, the range is stocked by the likes of Tesco, Waitrose, Holland & Barrett and Ocado, as well as Selfridges and Harvey Nichols.
It has currently raised, at the time of going to press, just more than £673k from 411 investors, valuing the business at £4m.
Dr Will’s plans to use the cash to increase marketing spend with the supermarkets to drive sales and convince shoppers to swap mainstream brands in the category for a healthier alternative.
It also wants to increase brand awareness generally with marketing and sampling, shore up working capital to support the current strong growth at Tesco and Waitrose, grow the ecommerce DTC channel, expand the team and invest in packaging and innovation in a bid to become “greener”.
The brand has sold more than 450,000 products to date, generating more than £1m in sales, but was hit hard at the start of the coronavirus pandemic.
The initial lockdown in March 2020 saw its on-trade foodservice sales disappear, which account 40% of the business. However, it quickly won nationwide listings in Tesco and Waitrose to offset some of the losses and expanded the range into dressings.
CEO Liam White said: “The mission remains to move consumers from sugary sauces to condiments that are naturally sweetened.
“It’s been an extraordinary journey so far, but we’re only just beginning, with 97% of British households having ketchup in their cupboards, we’re hoping to inspire more sauce lovers to stop coating their meals in sugar and start dolloping Dr. Will’s.
“We developed the product with all-natural ingredients that you can pronounce so consumers can enjoy with reckless abandon.
“With five Great Taste awards under our belts, a host of NPD in the pipeline and big retailer news coming this month, the future is looking exciting.”