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Founded in 1912 by Leon Leonwood Bean, L.L.Bean is a privately held retail company based in Freeport, Maine, that specializes in durable outdoor clothing, gear, and equipment. Under the leadership of recognizable figures like Chairman Shawn Gorman and former CEO Chris McCormick, the business maintains over 400 manufacturing employees in Maine. The private enterprise operates a multichannel distribution network that processes approximately 45,000 customer orders daily and shipped nearly 13 million packages during the 2020 fiscal year. Its physical retail footprint includes more than 60 locations across the United States, 22 stores in Japan, and 13 stores in Canada, while its flagship location attracts over three million visitors annually. The company expands its market reach through wholesale partnerships with retail entities like Nordstrom and international licensing agreements with the Jaytex Group to sell iconic products like Bean Boots.
Bean has raised $2.0M across 2 funding rounds.
Bean has raised $2.0M in total across 2 funding rounds.
Bean has raised $2.0M in total across 2 funding rounds.
Bean's investors include Matchstick Ventures, Canvas Ventures, Mountain Group Partners, Techstars, Michael Stoppelman.
Bean has raised $2.0M across 2 funding rounds. Most recently, it raised $2.0M Seed in July 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 1, 2022 | $2M Seed | — | Matchstick Ventures | Announced |
| Mar 1, 2022 | $20K Seed | — | Canvas Ventures, Mountain Group Partners, Techstars, Michael Stoppelman | Announced |
John Bean Technologies Corporation (JBT) is a global technology solutions provider specializing in advanced systems for the food processing and air transportation industries through its JBT FoodTech and JBT AeroTech segments.[1] It designs, manufactures, tests, and services sophisticated equipment, holding strong market positions such as sterilizing ~50% of the world’s canned foods, freezing ~50% of commercially frozen foods, extracting ~75% of global citrus juices, loading ~70% of overnight express packages, and boarding 75% of U.S. airline passengers.[1] With ~$1 billion in annual revenue, 50% of sales outside the U.S., over 3,100 employees (40% international), and operations in over 30 countries, JBT demonstrates robust growth momentum driven by continuous R&D investments to enhance customer efficiencies and reduce costs amid evolving industry trends.[1]
JBT traces its roots to John Bean, an inventor in California’s Santa Clara Valley who addressed a severe scale infestation in orchards by inventing a continuous high-pressure spray pump for efficient insecticide application.[1] This led to the formation of the Bean Spray Pump Company, which evolved into the Food Machinery Corporation due to its innovative spirit, eventually becoming the modern JBT Corporation.[1] Today, it honors this legacy by maintaining technology leadership in food and aero sectors, with a global footprint delivering equipment to over 100 countries.[1]
JBT rides trends in automation, sustainability, and efficiency within food processing and aviation, where rising global demand for safe, processed foods and optimized air cargo/passenger handling amplifies needs for advanced tech.[1] Timing aligns with post-pandemic supply chain pressures and food security challenges, favoring JBT's high-market-share systems that reduce waste and improve throughput.[1] It influences the ecosystem by enabling ~50-75% of critical global volumes in food and logistics, fostering innovation partnerships that set standards for reliability and scalability in industrial tech.[1]
JBT is poised for sustained growth through R&D in efficiency tech, expanding its leadership in food and aero amid trends like sustainable processing and autonomous logistics.[1] Evolving influences may include deeper AI/integration for predictive maintenance and greener operations, potentially boosting margins as global trade rebounds. This builds on John Bean's inventive legacy, positioning JBT as a cornerstone for efficient, tech-driven food and travel worldwide.[1]
