St. Louis-based nonprofit Arch Grants has officially awarded $400,000 in non-dilutive grants to four of its portfolio companies through its Growth Grants program, according to a press release issued yesterday.
The list of companies includes Big Heart Tea Co., Native Pet, Rebundle and Swipesum. Earlier this spring, Arch Grants awarded $200,000 to two additional portfolio companies – Provider Pool and GiftAMeal.
Each company has been awarded $100,000 in Growth Grants funds, which must be matched at least two to one by outside funds, such as equity investments, debt and other grants. Here is additional information on the four new recipients of the Growth Grants program:
- Big Heart Tea Co., a 2018 Cohort Company, is a woman-owned company that makes sustainable tea using only whole ingredients.
- Founder: Lisa Govro
- Native Pet, a 2020 Cohort Company, is a pet nutrition and supplements company that is reimagining pet nutrition for a new generation of pet parents.
- Founders: Daniel Schaefer and Pat Barron
- Rebundle, a 2020 Cohort Company, is a beauty brand that produces plant-based hair extensions and facilitates a recycling program for plastic synthetic hair.
- Founder: Ciara Imani May
- Swipesum, a 2018 Cohort Company, is a payments-technology firm that helps any business accepting credit or debit cards find the best solution at the best rate.
- Founders: Michael Seaman and Stephen Seaman
“The Growth Grant will help us increase our sales outreach by allowing us to present at costly trade shows, hire for our sales staff and improve our website’s user experience for sales growth,” said Lisa Govro, founder and CEO of Big Heart Tea Co. “We’re a St. Louis company and will continue to grow here.”
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“We moved back to St. Louis in 2019 and Arch Grants has been critical in navigating the St. Louis community,” said Daniel Schaefer, CEO and co-founder of Native Pet. “We are raising our Series A financing round in tandem with our Growth Grant. We plan to scale into new sales channels, hire new employees and invest in marketing and branding.”
“Arch Grants has provided a strong foundation for our business in St. Louis and has aided our success,” said Ciara Imani May, founder and CEO of Rebundle. “We’re excited to expand our reach and impact in the city with the addition of the Growth Grant and know that we can provide greater opportunities with a larger manufacturing facility.”
“We are focused on creating a sustainable business that continues to scale at a fast pace,” said Michael Seaman, co-founder and CEO of Swipesum. “With our projections, this Growth Grant will fund software development along with a few revenue-generating positions at Swipesum. Following this raise, we forecast it’s the last time we will need outside funding to achieve our growth goals.”
The Growth Grants program was launched in 2021 to provide follow-on funding to help Arch Grants companies that have demonstrated success to hire talent and scale in St. Louis. Any Arch Grants company still operating in St. Louis is eligible to apply up to twice per year. If awarded, they must commit to remaining in St. Louis for at least two years. Applicants are evaluated by an external panel of volunteer judges with a wide array of expertise.
