When was True Essence founded?

True Essence was founded in 2021 and raised its 1st funding round within a year of its incorporation.

Where is True Essence located?

True Essence is headquartered in Indianapolis, United States.

Who is the current CEO of True Essence?

Matt Rubin of True Essence. They have also founded 2 companies.

How many employees does True Essence have?

As of Mar 31, 2026, the latest employee count at True Essence is 16.

Is True Essence a funded company?

True Essence is a funded company, having raised a total of $35.6M across 2 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Oct 25, 2021.

When was the latest funding round of True Essence?

True Essence's latest funding was a $***** Series B round on Jul 31, 2023, with participation from 1 investor.

Where does True Essence rank among its competitors?

True Essence ranks 7th amongst 73 active competitors, of which 5 are funded. It stands 1st in terms of total funding among its competitors. The most recent competitor to raise funding was EvodiaBio, which secured $7.04M in Dec, 2025.

Who are the top competitors of True Essence?

True Essence's top competitors include Sovos Brands, EvodiaBio and Stonefield. Among them, EvodiaBio secured the most recent funding round in December, 2025.

True Essence - 2026 Company Profile, Team, Funding & Competitors

True Essence is a series B company based in Indianapolis (United States), founded in 2021 by Matt Rubin. It operates as a Provider of restoring food flavour services. True Essence has raised $35.6M in funding from AFM Capital Partners. The company has 73 active competitors, including 5 funded and 14 that have exited. Its top competitors include companies like Sovos Brands, EvodiaBio and Stonefield.

Key Metrics

Founded Year

2021

Location

Indianapolis, United States

Stage

Series B

Total Funding

$35.6M in 2 rounds

Latest Funding Round

Series B, Jul 31, 2023, $*****

Investors

AFM Capital Partners & 1 more

Ranked

7^th among 73 active competitors

Employee Count

16 as on Mar 31, 2026

Similar Companies

Sovos Brands & 66 more

View True Essence's full profile

True Essence has raised a total funding of $35.6M over 2 rounds. Its first funding round was on Oct 25, 2021. Its latest funding round was a Series B round on Jul 31, 2023 for $*****. 1 investor participated in its latest round. True Essence has 2 institutional investors.

Here is the list of recent funding rounds of True Essence:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jul 31, 2023	5166434	Series B	2510522	8651712	2496678	2931733
Oct 25, 2021	4261454	Series A	7575284	7135966	5697833	Elevate Ventures

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View details of True Essence's funding rounds and investors

The founders of True Essence is Matt Rubin. Matt Rubin is the CEO of True Essence.

Here are the details of True Essence's key team members:

Matt Rubin: Founder & CEO of True Essence and founder of 1 other company.
Contact Info: 1 email address

View details of True Essence's Founder profiles and Board Members

True Essence's employee count trend

True Essence has 16 employees as of Mar 26. Here is True Essence's employee count trend over the years:

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Top competitors of True Essence include Sovos Brands, EvodiaBio and Stonefield. Here is the list of Top 10 competitors of True Essence, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Sovos Brands 2017, Berkeley (United States), Acquired	Food and beverage company	-	Ares Capital Corporation, Churchill Asset Management ... & 1 others	57/100
2nd	EvodiaBio 2021, Copenhagen (Denmark), Series B	Developer of natural aroma molecules through precision fermentation for various industries	$21.1M	RA Capital Management, Danmarks Eksport og Investeringsfond ... & 11 others	50/100
3rd	Stonefield 2018, Bengaluru (India), Seed	Food processing company offering food flavours	$300K	Exter, Vistasinvestment & 9 others	40/100
4th	Omega Ingredients 2001, Ipswich (United Kingdom), Acquired	Manufacturer of food ingredients	-	The FSE Group, Jamie Fox	37/100
5th	CrushDynamics 2016, Summerland (Canada), Seed	Provider of food ingredients derived from upcycled agricultural byproducts	$2.81M	Protein Industries Canada, Lumi Foods & 12 others	37/100
6th	Bairun Investment Holding Group 1997, Pudong (China), Public	Distributors of fruits & vegetables	-	-	36/100
7th	True Essence 2021, Indianapolis (United States), Series B	Provider of restoring food flavour services	$35.6M	Elevate Ventures, AFM Capital Partners	38/100
8th	Nactarome 2018, Milan (Italy), Acquired	Company that specializes in creating and producing natural flavor, taste, and color solutions for the food and beverage industry	-	Ambienta	35/100
9th	Vanilla Vida 2020, Herzliya (Israel), Series A	Vanilla essence processing company	$11.5M	Ordway Capital, Gullspang Re:food & 4 others	33/100
10th	Nactis Flavours 1998, Bondoufle (France), Acquired	Provider of strategic design, brand activation, and architecture services	$12.5M	MML, Aromata Group	32/100