Mark Ritz and his co-founder, Sylwia Tabor launched Carnivore Snax in 2020 with a singular vision: to create high-quality meat snacks while challenging the current vilification of meat by focusing on regenerative agriculture.

What started as a successful Kickstarter campaign has grown into a mid-8 figure CPG powerhouse with 50+ employees and a state-of-the-art production facility.

How it all started

Sylwia was already heavily involved in the carnivore community well in advance of their launch. She stuck to the carnivore diet for nearly three years (just meat and water), and felt that it cured her underlying ailments. So she started sharing her journey on social media, and in doing so, built a tight-knit community that would go on to successfully fund their Kickstarter campaign.

While they set a modest goal of $15,000, the campaign resonated with the community, and Carnivore Snax raised nearly $200,000. The initial success gave them the startup capital they needed, but it was their strategic approach to financial and operational fundamentals—guided in part by Greenhouse’s financial leadership—that set them up for sustained growth.

Since then, Carnivore Snax has grown from $2M to over $20M+ in revenue—proof that disciplined operations and the right financial partners can unlock remarkable scale.

If you make your supply chain work quickly and pair it with something like Settle, you’ll be surprised at how fast you grow.

His biggest tip? Have a full understanding of your supply chain and the time and cost it takes to turn a raw material into a sellable good. Get obsessed with that number because that’s going to make the biggest difference in your business.

Smart supply chain as a competitive advantage

Unlike many CPG brands who turn to offshore suppliers, Carnivore Snax is committed to a 100% US-based supply chain, which has allowed them to scale quickly and manage their cash conversion cycle properly.

• Receive 10,000 pounds of raw materials in <1 week
• Better control over manufacturing processes and quality
• Reduced lead times and supply-chain complexity
• Prioritize farmers who focus on regenerative agriculture

Understand unit economics and make smart pricing decisions

Before launching, Mark made sure he understood the unit economics, so he created a pricing structure that would support rapid growth while maintaining profitability.

Instead of unnecessary expenses like premium web design, Mark and the team focused on essential spending, and this bootstrap mentality helped them maintain their profit margins while they expanded.

Partner with Settle for continued growth

As Carnivore Snax scaled, they knew they needed a partner who could fuel growth—without requiring equity. For the past four years, Settle has done just that. With working capital that stacks with supplier terms for up to 90 days, no revenue-sharing traps, and predictable repayment schedules, Settle gave the brand the flexibility to scale on their terms.

But growth isn’t always linear. In Q1 2024, Carnivore Snax faced a sudden operational shutdown—putting their revenue, team, and momentum at risk. Working closely with their fractional CFO Mark Lupton of Greenhouse Business Advisors, the team leaned on Settle’s capital to navigate a high-stakes relaunch, tighten cash controls, and re-forecast every dollar. That safety net helped turn a potential crisis into a major comeback.

With Settle’s integrated bill pay and capital, we’re saving at least 20 hours a month. It’s not just about setting up bills—it’s the full workflow, from tracking to working capital to payment

Since then, Carnivore Snax has been able to:

• Purchase multiple machines simultaneously
• Scale production capacity
• Preserve healthy cash flow while expanding
• Reinvest aggressively into growth

Originally drawn to Settle for its simplicity, the Carnivore Snax team has stayed for the innovation—and the impact it’s had at every stage of the journey.

Settle makes it easy because of the integration. It looks at the dates of the invoices and allows it so I don’t have to go to Finaloop or a bookkeeper doesn’t have to change any dates to make sure expenses are accrued. That’s been a massive benefit, and that’s why we’ve been moving more of our bills over to Settle.

Looking ahead

Now, Carnivore Snax is investing in new production capacity and planning for USDA certification to expand into new channels like Amazon. With Greenhouse and Settle as key partners, they’re building not just a leading DTC brand—but a financially mature company poised for long-term success.

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