GrubMarket, a San Francisco, CA-based AI-powered food supply chain technology enabler, raised $50M in Series G funding.
Backers included Liberty Street Funds, 3Spoke Capital, ROC Venture Group, Portfolia, Pegasus Tech Ventures, Joseph Stone Capital, and others. The round valued GrubMarket at over $3.5 Billion.
The company intends to use the funds to accelerate the expansion of its AI software and business growth and extend its eCommerce reach globally.
Led by CEO Mike Xu, GrubMarket is a provider of AI-powered Enterprise AI solutions for the American food supply chain industry.
This investment round follows a series of major milestones for the company. GrubMarket released GrubAssist AI, an Enterprise AI software solution suite built specifically for the food supply chain, featuring an innovative, patent-pending Business Analyst AI assistant that uses AI large language models to deliver a transformative business intelligence experience for users; the patent-pending AI Orders agent, which employs AI technology to collect and convert offline ordering information from voicemails, pdfs, and emails into accurate digital orders; and the Cash Flow Analyst AI assistant, which leverages AI to predict cash flow patterns and trends for food wholesalers and distributors. In 2024, the company also expanded to South Africa; acquired one of the largest foodservice companies in Texas; and acquired Good Eggs, a major online grocery provider on the West Coast. Today, GrubMarket 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. The company does business in over 70 countries globally and has over 12,000 employees. Customers include tens of thousands of grocery stores, including almost all of the nationwide grocery store chains; restaurants; hotels; schools and universities; corporate offices; government facilities and bases; online food delivery companies; farms; and individual consumers.
FinSMEs
18/03/2025