Boulder’s Purely Elizabeth raises $50M Series B to fuel expansion

BOULDER — Purely Elizabeth LLC, a Boulder-based maker of natural pancake mixes and oatmeal and granola products, has raised $50 million in Series B funding led by a newly formed investment outfit from the founder of General Mills Inc.’s (GIS: NYSE) venture fund.

The company, formed by ex-holistic nutrition counselor Elizabeth Stein in 2009 in New York, will be used to fuel “core growth and expansion,” added hiring, a boosted marketing presence and brand refresh, an extension of the company’s oatmeal offerings, as well as an entrance into a yet-to-be-named product category, Stein told BizWest. 

Stein moved Purely Elizabeth, at the time…