She Sold Her Last Company For Hundreds Of Millions And Now Raised $132 Million To Help Your Kids Reach Their Full Potential

In the dynamic world of entrepreneurship, stories of resilience, determination, and innovation shine bright. Jessica Rolph, a seasoned entrepreneur with 17 years of experience in the early childhood space, has woven an extraordinary tale of building successful ventures from the ground up.

In this blog post, we delve into Jessica’s inspiring journey, from her childhood in Minnesota to the creation and acquisition of Happy Family, and now, her latest venture, Lovevery.

Listen to the full podcast episode and review the transcript here.

Childhood Foundations

Born in 1974 in Minnesota, Jessica’s early life unfolded against the backdrop of a typical childhood marked by her parents’ divorce when she was three.

Raised in two different households, she navigated the complexities of a blended family, embracing the lessons learned from her younger brother, Rob, who has Angelman syndrome.

This experience laid the foundation for her deep understanding of empathy and the power of familial bonds.

Entrepreneurial Awakening

Jessica’s path to entrepreneurship was not a traditional one. Unlike those who claim to be born entrepreneurs, Jessica’s journey began with a singular vision – to create a business that could make a positive impact on society.

Inspired by socially responsible businesses, Jessica pursued her MBA, aiming to merge purpose and business.

Having completed her graduation in 2004, her first attempt led her to Austin, Texas, with a vision to create a food line focused on cancer prevention, endorsed by cycling legend Lance Armstrong.

Around that time, the Livestrong yellow bracelet campaign was started. Jessica talks about how the bracelets sold for a dollar when they cost only pennies to make. She approached the foundation with her food line concept, however, it was uninterested.

Although the original plan didn’t materialize, Jessica’s resilience and adaptability brought her to Whole Foods, where she eventually met her future business partner and co-founder of Happy Family, Shazi Visram.

Happy Family: A Rollercoaster Ride

The journey of Happy Family, the organic baby food company, was marked by twists and turns. Initially launching frozen baby foods, Jessica and her co-founder faced challenges but pivoted successfully to infant cereals.

Their commitment was toward nutritional excellence and alternatives to processed baby foods available in jars. The duo quickly realized that creating fresh baby food at scale and launching pureed peas in grocery stores across the country in the refrigerated section was not viable.

Since the technology was not available, Jessica and Shazi decided to pivot to frozen baby foods. They developed little cubes of frozen baby food that we sold in the freezer section and retailers.

Their initial attempts at fundraising were about hustling individual investors and convincing them to buy a piece of their business for $2500. The duo also visited the Midwest to do a target store test, giving away free samples to create awareness of the availability of baby food in the frozen aisle.

Pivoting to Dry Cereal and Squeezy Pouches

Since the products didn’t catch on. Jessica and Shazi pivoted to dry cereal which was healthier than other brands. They included vitamins and nutrients to make it more nutritious and ensured that it was organic.

Around that time, the Happy Family competitor had supply issues which resulted in it being the only available brand which boosted its popularity. Navigating through hurdles eventually led to the creation of the iconic squeezy pouches, establishing Happy Family as a trailblazer in the industry.

The fruits and vegetable mixes with healthy nutritious additives in a squeezy pouch became their success story.

Jessica credits her partner, Shazi with innovative ideas like adding more nutrition, probiotics, and healthy fats to the cereals–all the essentials that babies need in the early months of their lives.

Jessica talks about the manufacturing issues, packaging problems, and other trials and errors they went through before developing the ideal product-market fit.

Exiting Happy Family

The acquisition by Danone marked a significant milestone for Happy Family, with Jessica reflecting on the emotional aspects of relinquishing control and ownership.

She recalls their relationship with Gary Hirschberg the founder of Stonyfield Farm yogurt. Interestingly, although Danone is considered a yogurt company in the US, it is actually a global infant nutrition company.

Jessica and Shazi considered having a broader partner with an infant formula background and expertise to take their company to the next level. The exit not only brought financial success but also showcased the positive impact on individual investors who saw substantial returns.

Jessica and Shazi sold 60% of the business at the time of acquisition and per the terms of the deal with Danone, they stayed on for a three-year earnout.

Reflecting on her experiences, Jessica emphasizes the importance of grit, separating emotion from business decisions, and persistently moving forward.

Learning to handle highs and lows with equanimity, she believes that success lies in unwavering dedication to the vision, irrespective of emotional fluctuations.

Lovevery: Nurturing Future Generations

Now, at the helm of Lovevery, Jessica’s entrepreneurial spirit continues to burn brightly. With a vision to provide parents with tools and information rooted in neuroscience, Lovevery seeks to support children’s optimal development from birth to elementary school.

Jessica talks about wanting to build an intentional environment to help grow her kids’ brain capacity to develop and help them reach their potential. That’s when she discovered a doctoral thesis on infant brain development and went deep into the science of learning.

That’s how Jessica and her co-founder Rod Morris created a company with a recurring revenue model. It delivers an early learning program to equip parents with products that neuroscience says are healthy for each stage of a child’s development.

Thus, Lovevey reflects a commitment to building lasting relationships with parents globally.

Fundraising, Metrics, and Future Aspirations

Lovevery has raised $132 million in funding, showcasing impressive metrics with a strong customer base, revenue growth, and a global presence. Its main investors include TCG, Google Ventures, and the Chan Zuckerberg Initiative.

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Jessica explains that they also have Reach Capital which is an early-stage education fund and Maveron. Their fundraising efforts have been successful because of Rod’s experience with building mission-driven companies, one of which has gone public.

Jessica envisions Lovevery as a global iconic brand, valued at $20 billion or more, echoing the success of renowned brands like Starbucks, Tesla, and Lululemon. Her mission is for children all over the world to be able to reach their highest and best potential, living full lives.

Lovevery is a recurring revenue business with $221M in trailing twelve months revenue, 21% year over year growth, and is sold in 32 markets worldwide. Close to two-thirds of their customers are acquired organically.

They have a viral marketing group and 46% of their customers have heard about Lovevery through a friend. The company also has a broad reach of 60% of US zip codes. Jessica and Rod intend to create a lasting company and an iconic brand.

Advice to Younger Self

In a poignant moment of reflection, Jessica shares advice for her younger self: separate emotion from business decisions.

Acknowledging the emotional rollercoaster of entrepreneurship, she underscores the importance of maintaining focus on the vision and daily tasks, regardless of external feedback, which can be negative and demoralizing.

Conclusion

Jessica Rolph’s entrepreneurial journey is a testament to the power of resilience, adaptability, and unwavering commitment to a vision. From Happy Family to Lovevery, her story inspires budding entrepreneurs to embrace challenges, separate emotion from action, and persistently pursue their dreams.

As Jessica continues to envision a world where children globally reach their fullest potential, her legacy as a trailblazing entrepreneur remains firmly etched in the annals of business success.

Listen to the full podcast episode to know more, including:

• Jessica Rolph’s journey underscores the importance of resilience, adapting to challenges, and persisting through the highs and lows of entrepreneurship.
• Jessica’s initial foray into business was fueled by a desire to create positive societal impact through purpose-driven ventures.
• Pivoting from frozen baby foods to iconic squeezy pouches, Happy Family’s success lies in the team’s ability to adapt, innovate, and find product-market fit.
• Happy Family’s acquisition by Danone not only brought financial success but positively impacted individual investors, showcasing the broader influence of purpose-driven businesses.
• Jessica emphasizes the need to separate emotion from business decisions, maintaining focus on the vision and daily tasks to navigate the entrepreneurial rollercoaster.
• Lovevery’s recurring revenue model reflects a commitment to building lasting relationships with parents globally, supporting children’s optimal development from birth to elementary school.
• Envisioning Lovevery as a global iconic brand with a $20 billion market cap, Jessica’s future aspirations mirror the success trajectories of renowned brands like Starbucks, Tesla, and Lululemon.

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