Boulder-based Bobo's oat bar company has raised $8 million in Series A funding and plans to spend millions on marketing to make a run at its national competitors.
The minority investment, led by Boulder Investment Group Reprise (BIGR), also includes Range Light LLC, a Boulder-based investment firm, and will allow Bobo’s to pump up marketing efforts and build out a national sales team -- going from three to seven national sales directors.
"We are going to spend in the range of 18 to 34 percent of gross sales on marketing," said Bobo's CEO TJ McIntyre.
That's about $3 million, he said, compared to the $800,000 spend on marketing over the last 14 years.
Read more at the Denver Business Journal: http://bizj.us/1p2usa
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