Boulder-based Bobo’s, a natural foods company and maker of baked whole grain snacks, recently raised $5.5 million in Series B1 financing to help diversify product offerings and to fuel growth. The Series B1 financing round (after a company is past the startup stage and is successfully developing its business) was led by Boulder Food Group, a venture capital firm, as well as current investors Ridgeline Ventures and BIGR Ventures, according to a news release.

The funding follows several years of growth for the brand: Bobo’s grew 70% in 2017, 45% in 2018, and anticipates a 40% growth this year.

The latest round of financing will support the brand’s expansion.

The funding will be used to expand capacity at Bobo’s Loveland bakery, which opened earlier this year, and support retail expansion. The company also plans to invest in innovation to help “cement the brand’s position as a leader in delicious healthy snacks,” the release stated.