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BlackRock led a Series B financing of more than $100 million for Seattle-based Cap Hill Brands in September 2022. Existing investors Version One Ventures, Maveron, and Ascend also participated. The company said it would use the funding to grow and acquire more consumer brands; the report did not disclose a valuation.
What the 2022 funding announcement said
GeekWire reported on September 8, 2022, that the round brought Cap Hill Brands’ total debt and equity raised to more than $250 million. At that point, the company had acquired nearly 35 brands and employed more than 200 people. Those figures describe the company in 2022, not its present-day size.
Founded in 2020 by e-commerce veterans Jason LeeKeenan and Kevin Saliba, Cap Hill Brands was led by the co-founders as co-CEOs. The financing announcement did not state the company’s valuation. GeekWire’s September 2022 report covered the round, the company’s scale, and its stated growth plans.
How Cap Hill Brands said it supported acquired brands
The company described itself as a next-generation consumer packaged goods business: it bought brands and sought to grow them through centralized operations, technology, and management. LeeKeenan told GeekWire, “At the core, we think of ourselves as a next-generation CPG company, and our mission is really to help grow these brands.”
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GeekWire reported that Cap Hill Brands acquired 100% of a brand but could structure transactions flexibly, including arrangements in which a founder remained involved after a sale. That option should not be read as a claim that every founder stayed on.
Its operating model combined shared support with expansion beyond Amazon. The company said it targeted brands with sustainable advantages that could sell across multiple e-commerce channels. In addition to Amazon, the 2022 report named Nordstrom, Target, Walmart, Kohl’s, Chewy, and Wayfair. Maveron likewise described a strategy that began with Amazon sellers and broadened into other channels on its Cap Hill Brands portfolio page.
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A September 2022 profile by Built In Seattle described the company’s Amazon-centered origins and cited supply chain, marketing, and warehousing among the functions it managed. It named Butterfly Craze, merka, and LilGadgets as examples from the portfolio. The reporting describes the intended operating approach; it does not quantify results by sales channel or establish how much autonomy individual brands retained.
Executives reported in the 2022 coverage
GeekWire reported executive additions or roles across commercial, people and legal, finance, technology, and supply chain operations. These are titles as reported in 2022, not a verified current leadership roster.
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| Executive | Role reported in 2022 | Background reported |
|---|---|---|
| Greg Revelle | Chief commercial officer | Previously chief marketing officer at Kohl’s and Best Buy |
| Susan Coskey | Chief people officer and general counsel | Previously chief people officer for Holland America Group and director of Seattle’s Department of Human Resources |
| John McKeon | Chief financial officer | Previously vice president of financial planning and analysis at Carvana |
| Sarang Fegde | Chief technology officer | Previously led DemandHelm, which Cap Hill Brands acquired in 2021 |
| Paul Leslie-Smith | Chief supply chain officer | Prior background not stated in the GeekWire report |
What is not established about Cap Hill Brands today
The available coverage documents the September 2022 financing, portfolio, staffing, and strategy. It does not establish the company’s current operating status, current leadership, present-day portfolio size, or subsequent acquisition history. Its 2022 figures should therefore be treated as historical rather than as current company metrics.
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