The Wild Earth Shark Tank Deal: Net Worth and Current Status

Pet food represents one of the most resource-intensive sectors of the global food supply chain. Traditional commercial kibble relies heavily on factory farming, generating immense carbon emissions while often utilizing low-quality animal by-products.

Ryan Bethencourt walked into the Shark Tank in Season 10 to confront this environmental problem head-on. His solution was a clean-protein, plant-and-fungi-based dog food engineered to slash carbon footprints without sacrificing essential canine nutrition.

The resulting pitch created immediate friction among the Sharks, sparking intense debates about startup valuations, biological dietary needs, and consumer readiness. Yet, Bethencourt stood his ground and walked away with a half-million-dollar deal.

The Bottom Line

• The Deal: Ryan Bethencourt secured a $550,000 investment from Mark Cuban for 10% equity during Season 10.
• The Growth: Wild Earth scaled aggressively, reaching $21 million in annual revenue by 2024 and expanding into major retailers like Petco.
• The Current Status: Despite filing for Chapter 11 bankruptcy restructuring in February 2025, Wild Earth remains fully operational today. They continue to sell their signature performance kibble, superfood treats, and newly launched cat food lines.

What is Wild Earth?

Wild Earth is a biotechnology startup and pet food manufacturer that produces cruelty-free, high-protein dog and cat food using plant-based ingredients and a proprietary fungi protein called koji.

Wild Earth approaches pet nutrition through the lens of cellular biology and environmental sustainability. Instead of relying on beef, pork, or poultry—which require massive amounts of land and water, Wild Earth utilizes koji. Koji is a microscopic fungus traditionally used in Asian cuisine to ferment soybeans into miso and soy sauce. The company’s scientists discovered that specific strains of koji contain all ten essential amino acids that dogs require for muscle development, energy, and overall health.

By scaling this fungi production in massive bioreactors, Wild Earth creates a dry kibble that mirrors the protein content of premium meat-based diets. The environmental savings are substantial.

According to corporate impact reports, between 2021 and early 2026, the company sold over 3.1 million pounds of kibble. This volume translates to an estimated reduction of 11 million kilograms of CO2 and spares the equivalent of roughly one million chickens from factory farming processes.

Business Overview

The Founder(s) Behind Wild Earth

The driving force behind Wild Earth is Ryan Bethencourt, an entrepreneur and scientist with a deep background in biotechnology and genetics. Bethencourt holds a Bachelor of Science in Biological Sciences from Warwick University and a Master’s in Bioscience Enterprise from Cambridge University.

Before entering the pet food market, Bethencourt spent a decade in the biopharmaceutical industry, managing drug development initiatives alongside major corporations like Pfizer, AstraZeneca, and Genentech. His career pivoted toward startup acceleration when he co-founded IndieBio in 2014.

IndieBio operates as a biology accelerator and early-stage seed fund that heavily finances companies focused on the “post-animal bioeconomy.” Under Bethencourt’s leadership, IndieBio funded notable alternative protein startups, including Memphis Meats (now Upside Foods) and The EVERY Company.

As a committed vegan, Bethencourt faced a personal ethical dilemma: he refused to consume animal products but felt forced to purchase meat-heavy kibble for his rescue dogs. Recognizing a massive gap in the market, he teamed up with scientist Ron Shigeta and entrepreneur Kristin Wuhrman to build a lab using second-hand biotech equipment.

Their goal was clear: engineer a nutritionally complete, plant-based diet for pets that met stringent veterinary standards. This research phase laid the foundation for Wild Earth.

Wild Earth’s Shark Tank Pitch & Deal

Ryan Bethencourt stepped onto the Shark Tank stage during Season 10, Episode 16, seeking $550,000 in exchange for 5% equity in Wild Earth. This ask placed an $11 million valuation on the young company, a figure that immediately put the Sharks on edge.

At the time of filming, Wild Earth had only finalized their dog treats, which contained 10% koji protein. Bethencourt explained that the treats were launching in October, while the core product, the high-protein kibble, was still in the prototype phase and slated for an early-year release.

Kevin O’Leary was the first to attack the numbers. He pointed out that an $11 million valuation for a company without a flagship product on the market was absurd, citing the lack of sales to justify the asking price.

Lori Greiner appreciated Bethencourt’s mission to save animals but felt the risk of consumer rejection was too high. Guest Shark Matt Higgins bluntly labeled the valuation a “trap” and dropped out.

Daymond John also declined, noting that an investment in Wild Earth would conflict with a plant-based pet brand already in his portfolio.

Mark Cuban, however, viewed the pitch differently. Cuban holds a strong track record of investing in alternative meats and sustainable food systems. He ignored the lack of immediate retail sales, focusing instead on Bethencourt’s scientific pedigree and the scalable potential of bioreactor-produced protein. Cuban offered the requested $550,000 but demanded 10% equity, effectively cutting the company’s valuation in half to $5.5 million.

Bethencourt hesitated, attempting to negotiate the equity down, but Cuban held firm. Recognizing the value of Cuban’s network, Bethencourt accepted the deal.

Pitch & Offers Table

Did the Wild Earth Deal Actually Close?

Yes. The on-air handshake translated into a finalized contract during the subsequent due diligence phase. Mark Cuban executed the investment through his venture arm, Radical Investments.

Cuban’s involvement did not stop at the initial Shark Tank check. He became an active advisor and a major financial backer as the company scaled. In September 2021, Cuban stepped up to lead Wild Earth’s Series A funding round. This massive $23 million capital injection brought on additional high-profile investors, including actor Paul Wesley, At One Ventures (founded by GoogleX co-founder Tom Chi), and Big Idea Ventures. This secondary investment allowed Wild Earth to aggressively market its kibble and fund research into cell-based meats.

Wild Earth After Shark Tank: The Current Update

Following the Shark Tank appearance, Wild Earth executed a rapid expansion strategy. In 2021, the company relocated its primary operations from the high-cost environment of Berkeley, California, to Durham, North Carolina. This move reduced overhead expenses and shielded the manufacturing supply chain from strict pandemic-era regulations.

The demand for sustainable pet products surged between 2021 and 2023. Wild Earth successfully transitioned from a direct-to-consumer online model to securing retail shelf space.

By August 2023, independent pet stores and major retailers like Petco began carrying Wild Earth products. This retail penetration pushed the company’s annual revenue to $21 million by mid-2024, contributing to over $45 million in lifetime sales. The global pet food market, projected to hit $185.54 billion by 2030, provided a massive runway for growth.

However, aggressive scaling comes with severe financial risks. Wild Earth burned through capital to fund marketing campaigns, secure retail distribution, and maintain an expensive research and development wing tasked with creating lab-grown, cell-based meat for pets. Shifting macroeconomic conditions, inflation, and supply chain disruptions severely tightened venture capital markets in late 2024.

Unable to secure an emergency bridge-funding round to cover operational debts, Wild Earth voluntarily filed for Chapter 11 bankruptcy in February 2025.

A Chapter 11 filing is a mechanism for reorganization, not liquidation. Bethencourt addressed the public directly, assuring customers that the filing was a strategic move to restructure debt and that it remained “business as usual”. This strategy worked.

As of today, Wild Earth continues to fulfill online orders, ship products to retail partners, and develop new formulas. They recently expanded their product catalog to include a line of vegan wet cat food marketed as “Unicorn Pate”.

What is the Net Worth and Valuation of Wild Earth?

Determining the exact valuation of a private company undergoing a Chapter 11 restructuring requires separating historical venture capital data from current market realities.

Historical Valuation Data:

Prior to the 2025 bankruptcy, Wild Earth raised over $40 million across seven funding rounds. During the 2021 Series A round led by Mark Cuban, venture analysts estimated the company’s valuation to be well over $80 million, supported by their fast-growing revenue and proprietary biotechnology patents.

Current Net Worth and Valuation Estimate:

The bankruptcy filing forced a severe markdown of the company’s enterprise value. While lifetime revenue exceeds $45 million, the heavy debt burden required debt-to-equity conversions and renegotiations with creditors. Financial experts currently estimate Wild Earth’s post-restructuring 2026 valuation to sit between $15 million and $25 million.

Ryan Bethencourt’s personal net worth is estimated to be between $3 million and $5 million. This wealth is not solely tied to Wild Earth; it includes his equity in IndieBio, his venture partnerships at Babel Ventures, and his early investments in other successful biotech firms.

Is Wild Earth Still in Business?

Yes, Wild Earth is absolutely still in business. The February 2025 Chapter 11 bankruptcy filing generated confusing headlines, leading some consumers to assume the company folded. In reality, the legal filing allowed Wild Earth to shed unsustainable debt contracts while keeping its supply chain completely intact. You can still purchase their full line of dog and cat food today.

Where to Buy Wild Earth?

Consumers looking to transition their pets to a sustainable diet have multiple purchasing avenues:

1. Direct-to-Consumer: The most reliable inventory is found on the official Wild Earth website. They offer subscription models that provide a 20% to 30% discount on recurring orders of their Performance Formula and Maintenance Formula kibbles.
2. Amazon: Wild Earth maintains an official Amazon storefront, offering Prime shipping on their 18-pound kibble bags and superfood treats.
3. Physical Retail: While their physical footprint contracted slightly during the restructuring phase, Wild Earth products remain available in select Petco locations and independent specialty pet boutiques across the United States.

Top Plant-Based Dog Food Alternatives

If your dog is a picky eater or you want to explore other sustainable options, the alternative protein market has expanded significantly since Wild Earth’s Shark Tank debut.

• V-Dog: One of the oldest players in the vegan pet food space, V-Dog utilizes pea protein and quinoa. They offer a slightly different macronutrient profile than Wild Earth and have a long track record of canine health success.
• Bramble: A premium, fresh-food alternative. Bramble produces gently cooked, human-grade plant-based meals that are shipped frozen. It is significantly more expensive than Wild Earth but appeals to owners who prefer fresh food over dry kibble.
• Halo Holistic (Plant-Based): A larger, traditional pet food brand that recognized the shifting market trends. Halo offers a marine microalgae and plant-based kibble that provides a balanced, cruelty-free option with the backing of a massive corporate supply chain.