DENISE WOODARD OF PARTAKE FOODS
“As the first Black woman to raise $1M+ for a packaged food startup, I constantly think about how I can lift as I climb. I am passionate about raising awareness of Black and female entrepreneurship, increasing opportunities for women and people of color seeking careers in the food industry, and providing access to social and financial capital and mentorship.” — Denise Woodard
Denise is the Founder and CEO of Partake Foods, a natural food company that was inspired by her daughter’s experience with food allergies. Launched in 2017, Partake’s first product — delicious, better for you, allergy-friendly cookies — can now be found in more than 9,000 retailers including Target, Kroger, and Whole Foods Market. Partake's offerings have since expanded to include baking mixes and pancake & waffle mixes.
Denise is the first Black woman to raise more than $1 Million publicly for a CPG food startup. To date, the company has raised over $19M from investors including HER, Rihanna, CircleUp Growth Partners, FF2032 and Marcy Venture Partners. Partake was named #45 on the Inc 5000 list in 2022.
Prior to launching Partake, Denise spent a decade in consumer packaged goods at various Fortune 100 companies. She lives in New York City with her husband, Jeremy, and daughter, Vivienne. She graduated with her BA from the University of North Carolina at Chapel Hill and an MBA from Arizona State University.
You launched Partake Foods after your daughter was diagnosed with multiple food allergies. What inspired you to take the risk and pursue this path?
The inspiration behind Partake is very personal. When my daughter was diagnosed with several food allergies, I thought ahead to the struggles she’d have socially while navigating her food allergies at birthday parties, play dates, and holiday celebrations. Partake’s products have a place in her daily life, and knowing that I'm building something that I feel good about giving her and others is very motivational. Before starting out, I knew there was an opportunity to create a truly inclusive food brand that didn’t just focus on what we were "free from" but one that invited folks to come together and safely, confidently enjoy delicious foods, regardless of food allergies or dietary restrictions.
What was the biggest obstacle you faced transforming Partake from an idea to a commercially viable product?
I completely bootstrapped Partake for the first two years, emptying my 401k, selling my engagement ring, and selling cookies from my car to NYC-area grocers. I heard 86 “nos” when raising my seed round of fundraising before hearing “yes” from Marcy Venture Partners (co-founded by JAY-Z). While that period was stressful and oftentimes discouraging, no obstacle outweighs the benefit of knowing we’re creating products I’m proud to feed my own family and share with the world and that we’re doing good while growing the business.
How have your experiences from Philip Morris, FedEx, and Coca-Cola helped you in your entrepreneurship journey?
I spent most of my career in Corporate America. After nearly a decade working in a variety of sales and marketing roles, I was well-equipped with the knowledge and tools needed to start my own business. I’d seen examples of the types of processes and rigor I wanted to instill in the business as it grew, but I’d also seen examples of things I wanted to leave behind in creating an agile, mission oriented company.
You have raised more than $19M from founders including HER, Rihanna, and Marcy Venture (co-founded by Jay-Z)! One of the biggest challenges for Black and brown female entrepreneurs is access to funding. What advice do you have for WOC founders who are struggling to raise capital and finding the right venture partners?
My advice is to start making connections long before you need the money. You want to have a warm relationship with potential investors who understand you and your mission and align with your values. Know your business inside out, including your why and the financial metrics of your business. And lastly, seek out venture funds and groups that understand and celebrate you and your business idea and really consider who you’re surrounding yourself with when going after potential investor dollars.
As a successful Black founder, how do you plan to give back and increase opportunities for emerging female and Black business leaders?
As the first Black woman to raise $1M+ for a packaged food startup, I constantly think about how I can lift as I climb. I am passionate about raising awareness of Black and female entrepreneurship, increasing opportunities for women and people of color seeking careers in the food industry, and providing access to social and financial capital and mentorship. Through programs like Target Forward Founders, I mentor up and coming leaders excited to forge their paths in the industry. And in 2020, we launched the Black Futures in Food & Beverage Fellowship program, partnering with Historically Black Colleges & Universities (HBCUs) to provide fellows with access to education and internship opportunities in the CPG space.
What advice do you have for college-aged women who want to become entrepreneurs? What did you wish you knew when you were in college?
One piece of advice I would give my younger self would be, "Progress is better than perfection." As long as you’re trying your best and making small, incremental changes day by day, that’s what matters.
Quick-Take 1 What is one dish that you like to cook?
Spaghetti - It’s easy, a crowd pleaser, and always gives me great comfort
Quick-Take 2 What is your favorite Partake product? (Mine is the Birthday Cake Cookie!)
Crunchy Chocolate Chip cookies—thankfully, we have full-sized and mini cookies to enjoy!
Quick-Take 3 Who is another WOC founder or business leader that you look up to?
Oprah Winfrey