Daily Harvest Nabs $1.1 Billion Valuation as Lone Pine Invests

Daily Harvest, a company that specializes in frozen-food products, including ready-to-blend smoothies, is valued at $1.1 billion after its latest round of funding, said founder and Chief Executive Officer Rachel Drori.

The New York-based startup reached so-called unicorn status by raising $77 million in an equity-funding round led by Lone Pine Capital LLC that included participation from Lightspeed Venture Partners, an existing investor, Drori said in an interview.

“Lone Pine understands our mission and sees the opportunity to shake up the entire food system,” Drori said. Greenwich, Connecticut-based Lone Pine has backed other consumer-focused companies, including salad ...