How my meal delivery company beat the odds to get to profitability

A case study in the value of focus

In early 2022, the meal delivery company I founded, Tovala, went out to raise $100mm from venture capitalists. Our business could not have been hotter. We’d crossed $110mm of revenue, growing over 100% YoY. We had retention that was 3–4 times better than other meal delivery services. We had low awareness, lots of room for product innovation, and a seemingly clear path to an IPO.