GrubMarket, a San Francisco, CA-based AI-powered technology enabler and digital transformer for the food supply chain industry, acquired Parsemony, a Alameda, California-based provider of comprehensive enterprise software services primarily for fresh produce distributors, wholesalers, repackers and food service suppliers.
The amount of the deal was not disclosed.
This acquisition strengthens GrubMarket’s software services capabilities and expands the functionality of its existing portfolio of cutting-edge software products, including WholesaleWare and GrubAssist.
Parsemony’s software offerings will join GrubMarket’s portfolio of software solutions, which includes GrubMarket’s proprietary, AI-powered ERP software, WholesaleWare, a software-as-a-service (SaaS) platform that provides food industry wholesalers and distributors with financial management, sales support, online ordering, precise inventory management, lot traceability, grower accounting, and automated routing and logistics; GrubAssist, GrubMarket’s enterprise AI assistant that empowers food supply chain businesses with deep insights, intelligent analysis and automated order processing; and Orders IO, GrubMarket’s custom branded, mobile eCommerce solution.
Originally founded as Vintrex Inc. in the late 1980s by Carl Mahon, the company was known for its signature software product, Profitsense. The company was rebranded in 2017 as Parsemony by its current owner Colin Hare, who has worked with Mahon since 2010. Hare has continued developing and upgrading Profitsense under the Parsemony brand ever since. Parsemony provides enterprise-wide software solutions and services designed to help customers manage all aspects of their fresh food businesses. Key offerings from Parsemony include:
- A cloud-based, POS solution accessed via handheld devices, that makes it easy for food wholesale distributors to run powerful inventory and order management workflows directly from within their warehouses.
- Custom software engineering services focused on expanding the breadth of core ERP functionalities, like building intuitive online ordering interfaces and streamlined integrations with third-party accounting and bookkeeping systems, such as QuickBooks.
- Comprehensive IT services spanning network infrastructure setup, administration, general and specialized tech support, cloud computing, cybersecurity, data migration, hardware installation and maintenance, compliance consulting, and more, all focused on the specific needs of food supply chain businesses.
After the acquisition, Parsemony will continue to be managed by its leadership team, and Parsemony customers will have the opportunity to expand their software and enterprise AI capabilities through additional services offered by GrubMarket’s WholesaleWare, GrubAssist (including AI Orders), Orders IO, and GrubPay products.
Led by Mike Xu, CEO, GrubMarket is an AI-powered technology solutions provider for the food supply chain. The company operates in all 50 U.S. States and has a global presence in Argentina, Canada, Chile, Colombia, Egypt, India, Mexico, South Africa, and Spain, with plans to expand further across the U.S., Canada, South America, Europe, Africa, and other parts of the world.
FinSMEs
17/06/2024