Ripple Foods Announces New Funding, Appoints Next CEO

EMERYVILLE, Calif. – Ripple Foods, a producer of high-protein, allergen-free plant-based milks, announced $17 million in new funding. The round includes new investments from Material Impact and Rich Products Ventures, the Corporate Ventures arm for Rich Products Corporation, alongside continued support from existing investors S2G Ventures, Prelude Ventures, Fall Line Capital, Euclidean Capital, Tao Capital Partners and Tim Koogle.

Each serving of Ripple milks and shakes delivers up to 20 grams of plant-based protein while containing 50% more calcium than dairy milk, with less sugar, fewer calories and no common allergens like nuts, soy or lactose, said the company.

Ripple said the market for alternative protein ingredients is valued at $23 billion in 2024 and projected to more than double by 2030. 

The new funding comes as Ripple also welcomes longtime board member and seasoned industry leader Becky O'Grady as chief executive officer, the company said. O'Grady brings more than 30 years of experience building and scaling food and consumer brands.

O'Grady spent over two decades at General Mills, where she most recently served as president of Global Häagen-Dazs and chief marketing officer for International, overseeing global marketing strategy, e-commerce and consumer insights. She previously served as president of Yoplait USA. 

O'Grady has served on Ripple's board of directors for the past five years. As CEO, she will lead Ripple's next chapter of growth — expanding access to clean-label, allergen-free plant-based nutrition for today's consumers while continuing to build a healthier and more sustainable food system, said Ripple. 

"This is a pivotal moment for Ripple," said O'Grady. "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's new funding will fuel several strategic initiatives:

• New product launches: Ripple said it will introduce a new line of organic plant-based milks in Q1 2026 at a time when consumers seek nutrient-dense, plant-based protein options over ultra processed alternatives. 
• Consumer and customer expansion: Ripple said it will accelerate growth on its high protein kid and core milk offerings by increasing brand differentiation and visibility while driving expanded retail distribution.
• New partners and channels: Ripple is expanding into foodservice channels while continuing to build on its strong momentum with major retail partners such as Target, Whole Foods and Walmart, the company said. 

"We couldn't imagine a more exciting time to invest in Ripple Foods. 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," said Melissa Fensterstock of Material Impact.