Spiceology Inc., the Spokane-based spices and rub company, has raised $500,000 in venture funding and hopes to secure more in the near future, confirms company’s CEO Chip Overstreet.

The most recent funding information is revealed in PitchBook, a proprietary market data software subscription platform that tracks data regarding private capital markets, including venture capital, private equity, and merger-and-acquisitions transactions.

The PitchBook report describes the funding as later-stage venture capital from undisclosed investors, bringing the total VC funding raised to date to $1.8 million.

Founded in 2012 by chief marketing officer Pete Taylor and director of marketplace Heather Scholten, Spiceology late last year was listed by weekly business magazine Inc. among the fastest growing private companies in the U.S.

Overstreet says the company is “ahead of plan” for the first quarter of 2020, having recently added two members to its executive team.

“I think we have assembled a high-caliber team of executives,” Overstreet says.

He says it hasn’t been determined if the company will continue to add to its executive team.

“But we are growing, and we are actively hiring in all departments,” he says.

Spiceology currently has 50 employees, up from 40 early last October.