GrubMarket, a leading AI-powered technology enabler and digital transformer in the American food supply chain industry, recently announced a successful Series G funding round that raised approximately $50 million from investors such as Liberty Street Funds, 3Spoke Capital, ROC Venture Group, Portfolia, Pegasus Tech Ventures, Joseph Stone Capital, and others. This funding round has valued GrubMarket at over $3.5 billion, reflecting the company’s remarkable growth and success.
Mike Xu, the CEO of GrubMarket, expressed his excitement over the company’s rapid growth in the past year, with revenues exceeding $2 billion in 2024. He highlighted GrubMarket’s status as the largest private food technology company in the United States and emphasized the sustainable business model that has contributed to the company’s success. The funding will be used to enhance GrubMarket’s AI software solutions, expand its eCommerce reach globally, and invest in key areas such as technology, acquisitions, and talent.
GrubMarket stands out as the only Enterprise AI solutions provider for the American food supply chain, offering innovative software solutions that leverage AI technology to transform the industry. The company serves a diverse range of customers, including grocery stores, restaurants, hotels, schools, online food delivery companies, farms, and individual consumers. GrubMarket’s commitment to sustainability is evident through initiatives like Sustainable California, which aims to support organic farming practices, reforestation, and environmental restoration efforts in the state.
In addition to its technological advancements, GrubMarket has achieved significant milestones such as the release of GrubAssist AI, an Enterprise AI software suite tailored for the food supply chain industry. The company has also expanded its presence to multiple countries, acquired strategic partners like Good Eggs, and demonstrated financial success through profitable turnarounds and expansion initiatives.
Kevin Moss, President of The Private Shares Fund and Managing Director of Liberty Street Advisors, commended GrubMarket’s growth and sustainability efforts, emphasizing the company’s role in transforming the food supply chain industry. Similarly, Aaron Stafford, managing partner of ROC Venture Group, highlighted GrubMarket’s impact on reducing waste, optimizing operations, and delivering fresh produce to consumers.
Looking ahead, GrubMarket remains focused on driving innovation, expanding its global footprint, and continuing to lead the transformation of the trillion-dollar American food supply chain industry. The company’s commitment to sustainability, technological excellence, and operational discipline positions it as a key player in shaping the future of food distribution.
This announcement contains forward-looking statements that reflect GrubMarket’s expectations and plans for future growth and development. As the company continues to innovate and expand, it remains dedicated to delivering value to its customers, investors, and partners in the food supply chain industry.
