Show notes
In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Jesse Konig, co-founder and CEO of Jesse & Ben's, to explore what it really takes to disrupt a legacy category, raise capital in CPG, and build a fast-growing brand from the ground up. The conversation dives deep into the reality of fundraising as a first-time CPG founder, the mechanics of running a competitive investment process, and why great velocity data and fanatical customers are worth more than any polished pitch deck.Jesse shares his unconventional path from running a food truck in Washington D.C. (serving gourmet hot dogs and hand-cut fries) to opening a burger restaurant—on a 10-year lease—right as COVID hit, to making the bold pivot into frozen CPG with Jesse & Ben's. Built on a simple but powerful idea—bringing frozen french fries back to their original glory with better-for-you oils (beef tallow and avocado oil), clean sourcing, and zero fillers—Jesse & Ben's has quickly become a true food industry darling, landing nationwide distribution at Whole Foods and Sprouts in their first full calendar year, with Target, Kroger, and Costco on the horizon.Throughout the episode, Jesse pulls back the curtain on his fundraising journey from a friends-and-family SAFE round (20+ investors, hundreds of thousands to ~$1M) to a more institutional process driven by real velocity data, social proof, and competitive FOMO. He reveals how his valuation cap changed three times in one week once investors realized others were circling, why fundraising is a full-time job and a momentum game, and how he and co-founder Ben divided and conquered—Jesse running the investor process while Ben stood up a 6,000 sq ft production facility from scratch in 2025.Jesse also shares what he looked for in investment partners (back-channel references, not just curated intros), how to size a fundraising round (raise more than you think you need), and why the only way to lose in CPG is to run out of money.Whether you're raising your first friends-and-family round, preparing for an institutional process, or trying to figure out how much capital you actually need, this conversation is packed with hard-won, practical wisdom from a founder who's lived every stage of it.Listen in as they discuss:Jesse's background: D.C. food truck → burger restaurant → COVID pivot → frozen CPGThe origin of Jesse & Ben's: clean-sourced frozen french fries made with beef tallow and avocado oil"Turning junk food into joy food": the brand mission and why focus winsVertically integrating production: opening a 6,000 sq ft frozen manufacturing facility in 2025The first fundraise: friends, angels, and small VCs via SAFE notes on a rolling basisWhy fundraising is a full-time job and a momentum game—not a nights-and-weekends projectRunning a competitive process: how FOMO moved their valuation cap three times in one weekWhat investors actually leaned into: velocity data, fanatical customers, social proofHow to select investors: back-channel references, horror stories, and who you want to call in a crisisSizing your round: raise more than you think you need and always build in a runway bufferThe only way you lose in CPG: running out of moneyAdvice for founders: think with the end in mind, divide and conquer, run a processEpisode Links:Jesse Konig — Co-Founder & CEO, Jesse & Ben'sPersonal LinkedIn: https://www.linkedin.com/in/jessekonig/ Website: https://www.jesseandbens.com/ LinkedIn: https://www.linkedin.com/company/jesse-and-bens/Instagram: https://www.instagram.com/jesseandbens Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.comShow Links:Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)Join the Startup CPG Slack community (35K+ members and growing!)Follow @startupcpgVisit host Hannah's Linkedin Questions or comments about the episode? Email Daniel at [email protected] music by Super Fantastics