Ripple Foods secures US$17 million to expand plant-based dairy lineup under new CEO Becky O’Grady

Ripple Foods raised US$17 million in new funding, strengthening its position in the increasingly performance-focused plant-based dairy market and setting the stage for a period of accelerated growth. The round, announced in early December, brought together new investor Material Impact and Rich Products Ventures alongside existing backers S2G Investments, Prelude Ventures, Fall Line Capital, Euclidean Capital, Tao Capital Partners and Tim Koogle.

The financing coincided with the arrival of Becky O’Grady as CEO. O’Grady, a former President of Global Häagen-Dazs and Chief Marketing Officer for International at General Mills, spent five years on Ripple’s board before stepping into the top role. Her transition came at a moment when the company planned to broaden its product range, deepen its presence in key retail accounts and move into food service.

“This is a pivotal moment for Ripple,” O’Grady said. “Harnessing the power of our brand and the strength of our team, we are poised to unlock our full potential. We are launching innovative new products, driving consumer penetration and customer expansion, and opening new growth horizons through transformative partnerships and capabilities.”

Ripple planned to use the funding to support several initiatives tied to nutrition-led innovation and strategic channel expansion. The company expected to introduce a line of organic plant-based milks in the first quarter of 2026, targeting consumers seeking higher protein and cleaner labels. It also intended to build on its kids’ range and core milks by investing in brand visibility, differentiation and expanded retail distribution.

The business has long anchored its offering around yellow pea protein, producing plant-based milks, protein shakes and half-and-half alternatives that have attracted consumers requiring allergen-free options. The products are free from lactose, nuts, soy and gluten, are certified non-GMO and are sold nationally at Whole Foods, Target, Kroger and Walmart, as well as online.

Ripple’s focus on protein density and allergen accessibility has helped it retain share in a plant-based dairy segment undergoing consolidation and a reset in consumer expectations. While earlier years saw rapid category growth driven by novelty and marketing, the market has become more selective, with sustained demand forming around products that deliver nutritional clarity and functional value. Investors have increasingly concentrated on brands with established loyalty and consistent repeat purchases, conditions that Ripple’s retail performance has reflected across multiple national accounts.

Melissa Fensterstock of Material Impact said the funding came at a favorable moment for the business. “We couldn’t imagine a more exciting time to invest in Ripple Foods,” she said. “With Becky at the helm and a sharp focus on growing top-line revenue and achieving profitability, the company is poised to deliver strong results in the plant-based protein market. On a human note, Ripple’s products provide a wonderful solution for the millions of families struggling to find a nutritious, tasty, and clean alternative to dairy.”

Ripple also planned to expand further into food-service channels, a move that mirrored trends across plant-based dairy as cafés, schools and institutional operators sought reliable, allergen-friendly alternatives. Growth in these channels has increasingly been viewed as a critical step for brands seeking broader adoption, particularly as consumer-facing categories mature.

The company’s sustainability profile remains another element of its value proposition. Yellow peas require significantly less water than dairy or almonds, and Ripple’s B-Corp certification supports its claims on environmental stewardship and supply chain transparency. These attributes have taken on greater weight as retailers and consumers evaluate plant-based products more closely on environmental metrics as well as nutritional ones.

For Ripple, the latest funding round signaled a consolidation of strategy following several years of distribution expansion and product refinement. The capital reinforced its ability to compete in a segment where demand has continued to shift toward brands that combine nutritional relevance, clean ingredients and affordability. With O’Grady guiding the next stage of scale, the company aimed to use its strengthened balance sheet to accelerate product launches, bring greater visibility to its allergen-free range and establish a stronger foothold in emerging sales channels.

Ripple’s milks and shakes, made from pea protein and formulated to deliver competitive levels of calcium and protein with reduced sugar, have maintained traction with families managing dietary sensitivities as well as consumers looking for alternatives that resemble dairy in taste and texture. The company intended to extend that approach into its upcoming organic line, which was designed to appeal to shoppers looking for nutrient-focused options that move away from ultra-processed formulations.

As retailers sharpen their expectations around velocity, consistency and category differentiation, Ripple’s performance across major partners has helped sustain confidence among investors. With the new financing secured and a leadership transition complete, the company prepared to scale the aspects of its business that have driven its reputation: nutritional performance, allergen accessibility and a product architecture built around clarity rather than complexity.

The US$17 million round marked a steady step in Ripple’s broader plan to serve a market that has begun to prioritize reliability and substance over novelty. With new capital, new leadership and a defined expansion strategy, the company moved into 2026 with reinforced momentum.