Blackbird Foods

Blackbird Foods

Growth Stage

Plant-based brand of frozen pizza and plant-based meats

Plant-based brand of frozen pizza and plant-based meats


Raised this Round: Raised: $106,995

Total Commitments ($USD)



Start Date


Close Date


Min. Goal
Max. Goal
Min. Investment


Security Type

Equity - Common


Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share


Pre-Money Valuation


Year Founded



Food, Beverage, & Restaurants

Tech Sector


Distribution Model




Capital Intensity




Business Type


Blackbird Foods, with a valuation of $15 million, is raising funds on StartEngine. The company makes plant-based frozen pizza and plant-based meats using wheat protein. Blackbird Foods uses its proprietary processes to give meat-like texture and versatility to wheat protein and uses it to make meat-like plant-based food products. The business has over 3,000 distribution points and reported a revenue growth of 60% from 2022 to 2023. Emanuel Storch and Michael Pease founded Blackbird Foods in September 2019. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $325,968. The campaign proceeds will be used for marketing, working capital, and inventory.

Summary Profit and Loss Statement

FY 2023 FY 2022












Net Income



Summary Balance Sheet

FY 2023 FY 2022




Accounts Receivable



Total Assets



Short-Term Debt



Long-Term Debt



Total Liabilities



Financials as of: 04/25/2024
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Blackbird Foods 07/23/2024 StartEngine $15,000,000 $106,995 Equity - Common Active RegCF
Blackbird Foods 08/31/2023 Wefunder $7,000,000 $292,030 Convertible Note Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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As the plant-based food industry continues to grow, driven by consumers' growing appetite for sustainable and ethical eating options, Blackbird Foods emerges as a compelling player with its innovative approach to plant-based frozen pizzas and meats. Utilizing wheat protein as the cornerstone of its products, Blackbird Foods has developed proprietary processes that imbue this plant-based ingredient with a meat-like texture and versatility. This technological advancement allows the company to offer a range of products that appeal to vegetarians and meat-eaters alike, looking for healthier, environmentally friendly alternatives without compromising taste or texture. Offerings include plant-based frozen pizza, wings, and seitan.

Founded by Michael Pease, Emanuel Storch, Craig Cochran, Mark Mebus, and Ryan Moylan, Blackbird Foods has swiftly established a nationwide brand presence. With over 3,000 distribution points, including prestigious retailers such as Target and Whole Foods, the company has demonstrated impressive growth, reporting a 60% revenue increase from 2022 to 2023. This growth indicates the brand's resonance with consumers and the effectiveness of its distribution strategy. The company's products have also gained traction in the restaurant sector, boasting 300 relationships.

Blackbird Foods is raising funds on StartEngine with a valuation of $15 million. 

Next Section: Price


Blackbird Foods is seeking investments through a crowdfunding campaign on StartEngine, with a pre-money valuation of $15 million. This valuation is set against a backdrop of impressive growth metrics for a company in the food, beverage, and restaurant industry, particularly within the burgeoning plant-based foods sector. The company has exceeded $5.3 million in Annual Recurring Revenue (ARR) as of January 2024, demonstrating a substantial 60% revenue growth from 2022 to 2023. This growth is further evidenced by a 188% increase in retail sales over the last 24 weeks and the establishment of over 300 restaurant relationships.

Given these growth indicators, the 3.35x revenue multiple applied to Blackbird Foods appears reasonable for a high-growth, pre-profit company in the plant-based food sector. This is based on the $4.4 million in revenue for the most recent fiscal year. The valuation reflects the company's current financial performance and potential for future expansion within the US Plant-Based Foods market. With over 3,000 distribution points, including prestigious retailers like Target and Whole Foods, Blackbird Foods is well-positioned to capitalize on the increasing consumer demand for plant-based products.

For investors, the potential for a significant return on investment hinges on Blackbird Foods' continued expansion and ability to maintain its growth trajectory. The plant-based food industry is expected to grow exponentially in the coming years, and Blackbird Foods' innovative approach to creating meat-like textures from wheat protein could set it apart from competitors. However, investors should also consider the company's short-term debt of $3,742,062 and how this financial obligation might impact future profitability and cash flow.

To achieve a 10X return, Blackbird Foods must reach a post-exit valuation of at least $150 million. This would require maintaining current growth rates, expanding product lines and distribution channels, and potentially entering new markets. Given the company's proven track record of growth and innovation and the overall momentum of the plant-based food industry, such an outcome is ambitious but feasible with the right strategic moves and market conditions.

Next Section: Market


The U.S. plant-based food market, which Blackbird Foods is strategically positioned within, is experiencing a significant upward trajectory, with a market size of $9.9 billion in 2024 and a strong annual growth rate of 11.5%. This growth is fueled by several key drivers, including heightened health consciousness among consumers, increasing environmental concerns, and a growing prevalence of dietary restrictions. These trends are contributing to a larger consumer base seeking plant-based alternatives, not just among vegetarians and vegans but also among flexitarians who are looking to reduce their meat consumption for health or environmental reasons.

However, the market is not without its challenges. Consumer perceptions of taste and texture can be a barrier to adoption, especially among those accustomed to conventional frozen food options. The strategic focus on proprietary processes to enhance the meat-like qualities of wheat protein suggests a strong positioning to address consumer taste and texture concerns. 

Next Section: Team


Under CEO Emanuel Storch and Director of Operations Michael Pease, Blackbird Foods has made significant strides in the plant-based food industry, particularly in the frozen pizza and plant-based meats segments. Storch is a relatively green founder, with just three years in operations at Simply Gum before founding the company. That said, his experience is directly related to his current role in the consumer goods and food space and likely came with several transferrable skills. He has spent four and a half years with the company and, in that time, has proven himself to be a strong leader, as evidenced by the company's performance metrics.

Michael Pease, with over a decade of relevant restaurant experience, serves as the backbone of the company's operational strategies. His role as Director of Operations is critical for scaling the company's production capabilities and managing its over 3,000 distribution points, including high-profile retailers like Target and Whole Foods. Pease's extensive experience and high-level managerial skills ensure that Blackbird Foods maintains operational excellence and efficiency as it grows. Pease, however, appears to have filed for bankruptcy for a venture before founding Blackbird. The company was a restaurant, and it could be assumed that the pandemic contributed to the closure. 

Also of note, the team size has declined since the last funding round, though Blackbird Foods has demonstrated impressive growth since, reporting a 60% revenue increase from 2022 to 2023. This growth is a testament to the leadership team's effectiveness and ability to navigate the challenges of scaling a food production business.

The company's success is also supported by a strong advisory board of four industry experts providing strategic guidance and insights. The board includes co-founder Craig Cochran, who is part-time with the team but leads several other ventures, including Terri, a plant-based restaurant chain in New York. Mark Mebus and Ryan Moylan are the other two co-founders of Blackbird Foods. Both serve on the advisory board, but are more removed from the company than full-timers Michael and Emanuel.

Next Section: Differentiation


Blackbird Foods has carved out a distinctive position in the highly competitive plant-based food industry through its innovative approach to plant-based frozen pizza and meats. Utilizing wheat protein and proprietary processes, the company has successfully developed products that offer a meat-like texture and versatility, a significant differentiator in a market filled with soy and pea protein-based alternatives. This unique product offering, chef approval, and fresh ingredient use have positioned Blackbird Foods as a premium brand within the plant-based sector. 

The company's impressive traction, as evidenced by exceeding $5.3 million in ARR in January 2024, a 188% retail sales growth over the last 24 weeks, and establishing over 300 restaurant relationships, underscores its strong market presence and consumer acceptance. Being rated as the Best Vegan Wings by VegOut Magazine further solidifies Blackbird Foods' reputation for quality in the plant-based community.

Despite the presence of established competitors like Gardein, BeLeaf, Sol Cuisine, Daring, Amy's, Daiya, and Impossible Foods, Blackbird Foods has managed to secure a nationwide brand presence, with distribution points in prominent retailers such as Target and Whole Foods. This extensive distribution network, boasting over 3,000 points, is a testament to the company's effective B2B2C distribution model and ability to scale.

However, the plant-based food industry has relatively low barriers to entry, which means Blackbird Foods must continuously innovate and maintain its high-quality offerings to stay ahead. The company's focus on a specific niche—plant-based frozen pizza and meats using wheat protein—allows it to target a unique market segment. Still, it also means that Blackbird Foods must navigate the challenges of a very competitive landscape where differentiation on quality and taste is key.

Next Section: Performance


Blackbird Foods has demonstrated significant growth and traction in the competitive plant-based food industry. As of January 2024, the company achieved an impressive annual recurring revenue (ARR) of over $5.3 million, showcasing its strong market demand. 

The company's product portfolio, including plant-based frozen pizza and meats using proprietary wheat protein technology, has resonated well with consumers and critics alike, earning it the Best Vegan Wings by VegOut Magazine. This accolade highlights the quality and appeal of Blackbird Foods' offerings and enhances its brand recognition and credibility in the market.

Blackbird Foods' strategic relationships with industry giants such as Beyond Meat and Daring and its extensive distribution network that includes major retailers like Target, Whole Foods, and Sprouts have significantly contributed to its market penetration and sales growth. The company's ability to secure over 300 restaurant relationships further underscores its strong business-to-business (B2B) capabilities and its products' appeal in retail and food service channels.

The company's financial health is evidenced by its substantial revenue growth of 60% from 2022 to 2023, with annual revenue reaching approximately $4.47 million for the most recent fiscal year. This growth is further exemplified by an impressive 188% increase in retail sales over the last 24 weeks, indicating strong consumer demand and effective market strategies.

That said, Blackbird Foods is in the pre-profit stage and had a monthly burn rate of $50,000 and cash on hand of $240,000 as of the most recent reporting. This financial management will be crucial as the company continues to scale and seeks profitability.

Next Section: Risk


Blackbird Foods operates in the highly competitive plant-based foods sector, directly competing with established brands such as Gardein, BeLeaf, Sol Cuisine, Daring, Amy's, Daiya, and Impossible Foods. This competitive landscape presents a risk, as these competitors have substantial market share and brand recognition. Blackbird Foods must differentiate its products and maintain a strong value proposition to capture and retain consumer interest.

The company's reliance on proprietary processes to produce plant-based frozen pizza and meats using wheat protein introduces operational risk. Production and quality control are critical, as any inconsistency in product quality could harm the brand's reputation and consumer trust. 

Despite showing significant revenue growth, Blackbird Foods is still in a pre-profit stage with a net income of -$1,178,438 for the most recent fiscal year. This indicates that the company is spending more than it earns, a common scenario for growth-stage companies but a risk for investors if the path to profitability is longer than expected or if the company cannot achieve profitability.

Blackbird Foods has a substantial short-term debt of $3,742,062 as of the most recent fiscal year-end. Managing this debt level while funding operations and growth initiatives could strain the company’s financial resources. 

Lastly, while the plant-based foods market expands, consumer preferences and trends can shift rapidly. Blackbird Foods must continue to innovate and adapt to these changes to ensure its products remain relevant and appealing to its target audience. Failure to do so could result in decreased market share and revenue.

Next Section: Bullish Outlook

Bullish Outlook

Blackbird Foods is uniquely positioned in the rapidly expanding plant-based foods sector, demonstrating a strong potential for growth and market penetration. The company's innovative approach to creating plant-based frozen pizza and meats using wheat protein showcases a commitment to quality, sustainability, and the growing consumer demand for alternative protein sources. With a reported revenue growth of 60% from 2022 to 2023 and an expanding presence in over 3,000 distribution points, including prominent retailers like Target and Whole Foods, Blackbird Foods is scaling impressively in a competitive market.

The Food, Beverage, & Restaurants industry, especially the niche for plant-based products, is witnessing a significant shift as consumers increasingly opt for healthier and environmentally friendly alternatives. Blackbird Foods, with its proprietary processes to imbue wheat protein with a meat-like texture and versatility, is at the forefront of this shift. The company's ability to carve out a strong restaurant presence underscores the quality and appeal of its offerings. This restaurant presence serves as a testament to the product's quality and being chef-approved and as a strategic marketing tool to increase brand visibility and acceptance.

Finally, with a $15 million cap, Blackbird Foods valuation presents an attractive entry point for investors at this round, especially compared to the overall traction.

Next Section: Bearish Outlook

Bearish Outlook

While Blackbird Foods presents an innovative approach to the rapidly growing plant-based food sector, focusing on plant-based frozen pizza and meats, several factors contribute to a bearish outlook for the company. One of the most pressing concerns is the intensely competitive landscape of the plant-based food industry. Despite Blackbird Foods’ unique value proposition, it competes against established players like Gardein, BeLeaf, Sol Cuisine, Daring, Amy's, Daiya, and Impossible Foods, many of which have significant resources and brand recognition. This competition could limit Blackbird Foods' market share and growth potential.

Another factor that could challenge Blackbird Foods is its financial health. With $240,000 in cash, the company appears to be at risk of running out of operating capital in the short term without additional financing. This situation is compounded by the company's reported net income loss of $1,178,438 for the most recent fiscal year-end. Such a financial position may necessitate further fundraising efforts, which could dilute existing shareholders or impose more stringent financial constraints on the company.

Finally, while the company has demonstrated impressive revenue growth of 60.66% from 2022 to 2023, the sustainability of this growth rate in the highly competitive and dynamic plant-based food market remains uncertain. Consumer preferences can shift rapidly, and without a clear protective moat or differentiation, maintaining such growth could prove challenging.

Next Section: Executive Summary

Executive Summary

Blackbird Foods is making significant strides in the plant-based food industry with its innovative frozen pizza and plant-based meats. Founded by Michael Pease, Emanuel Storch, Craig Cochran, Mark Mebus, and Ryan Moylan, the company has quickly become a key player in the burgeoning plant-based foods sector. Utilizing wheat protein and proprietary processes, Blackbird Foods has developed products that offer the meat-like texture and versatility desired by consumers transitioning to plant-based diets.

With an impressive annual revenue growth of 60.66% from 2022 to 2023, Blackbird Foods has exceeded $5.3 million in annual recurring revenue (ARR) as of January 2024. This growth is supported by over 300 restaurant relationships and a 188% increase in retail sales over the last 24 weeks, highlighting the strong demand for their offerings. The company's products have been recognized as the Best Vegan Wings by VegOut Magazine, further validating their market appeal.

Blackbird Foods operates within a highly favorable market environment characterized by growing consumer awareness around health benefits associated with plant-based diets, environmental concerns, and dietary restrictions. These factors drive demand for plant-based frozen food options, positioning Blackbird Foods to capitalize on this trend. That said, Blackbird Foods faces intense competition from established plant-based and non-vegan frozen food brands.

The company's distribution network spans over 3,000 points, including major retailers like Target, Whole Foods, Sprouts, and others, indicating a robust market presence and consumer accessibility. Having raised over $2.7 million in prior funding rounds, Blackbird Foods is seeking additional capital on StartEngine with a pre-money valuation of $15 million. 


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Founder Profile

Michael Pease's Blackbird Foods: Plant-Based Delights Nationwide

Michael Pease, the founder and owner of Blackbird Foods, is on a mission to make high-quality, flavor-focused plant-based foods conveniently available nationwide. Specializing in delicious plant-based pizzas and wings, Blackbird Foods has established a significant retail presence, offering vegans, vegetarians, and anyone seeking a delicious meat-free alternative a range of satisfying options. With a focus on sustainability and ethical sourcing, Blackbird Foods is enhancing dining experiences and contributing to a healthier planet.

Read Founder Interview

Company Updates

In this company update, we look at Blackbird Foods new crowdfunding round on StartEngine at a $15M valuation, reflecting on the company’s increase in revenues and expansion into additional grocery chains.

View Company Update

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Blackbird Foods on StartEngine 2024
Platform: StartEngine
Security Type: Equity - Common
Valuation: $15,000,000
Price per Share: $3.00

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