Sacramento-based organic food delivery service Trifecta Inc. has restructured some of its operations, letting 10 employees go in the process.
At the end of 2021, the company had 105 employees.
“Our recent decision to reorganize a couple departments is a result of several factors, both internal and external,” said company spokesman Bradley Hartman, via email.
“It was not an easy decision for leadership, however, as we restructure those departments, these changes made sense,” he said. He added that the company is still hiring in several other areas.
On its website, Trifecta says it is hiring for positions in social media marketing, customer relationship management marketing and for a director of growth in direct-to-customer digital marketing.
Trifecta makes and ships complete cooked and vacuum-packed meals nationwide for fitness-minded consumers and people with special diets.
Last August, Trifecta raised $20 million in funding from investors led by Boston-based venture capital firm Spring Lake Equity Partners.
In booming technology markets like the Bay Area, Boston and Austin, Texas, many venture capital-backed companies are being told by investors to trim costs. Trifecta representatives declined to go into further detail about the cuts, and whether they had anything to do with escalating food and delivery costs.
The growing meal delivery company ranked fourth in the Business Journal's Fastest Growing Companies list last year, with about $77 million in 2020 revenue. It appears to be on track to make that list again for the year ended 2021, according to preliminary data.
In April, Trifecta got tentative approval for a $6.75 million grant from the California Competes Tax Credit. The tax credit is one of the state’s economic incentives to support growing companies. It's administered through the Governor’s Office of Business and Economic Development, also known as GO-Biz.
In its grant proposal, Trifecta plans a net increase of its employee number to a total of 479 employees by the end of the 2026 tax year. The company also proposes to make investments over that time of $1.5 million.
The state does not pay companies under the California Competes program. Rather, the state forgives taxes to the specified amount if the companies meet hiring and investment goals over time.
Trifecta has multiple relationships with sports leagues and fitness competitions, often being a sponsor or the official meal delivery partner.
Trifecta allows customers to choose from a menu of meals for a variety of specific diets, such as keto, paleo, vegan, vegetarian, clean eating and classic.
The company was founded in 2015. Since 2016, it has formed strategic partnerships with sports leagues and entities, including CrossFit LLC, F45 Training, the American Heart Association, Spartan Race Inc., Team USA Weightlifting and the Mr. Olympia bodybuilding contest.
