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Grub Market is an online marketplace that allows individuals to buy vegetables, fruits, and grocery products from retail stores.
It was founded in 2014. Its head office is situated in San Francisco, California, USA 94124.
It has raised 183.4M in 8 rounds. The latest round was in Feb 2021.
Some of its investors include BlackRock, ACE & Company, and Celtic House Venture Partners.
Its President & CEO, Mike Xu, currently has an approval rating of 100%. 66% of the Owler community
believes Grub Market will IPO.
It has an estimated 50 employees and estimated annual revenue of 32.0M. Grub Market supplies local fresh food online.
Mission of Grub Market
- The mission of Grub Market is to make fresh and healthy food available to all.
- We strongly believe that you, your family and your friends should always have opportunities to eat healthily.
- Grub Market is here to provide you access to small local producers and farmers in your favorite market and help you enjoy these delicious foods every day.
- Lack of time and access should never be an obstacle between you and healthy, delicious, and freshly harvested foodstuff.
- The Company offers organic foods, vegetables, gluten-free foods, snacks, drinks, pantries, home goods.
- It also offers health and beauty products, baby and kids’ products, pets, non-GMO foods, paleo foods, cholesterol- free, and no trans-fat foods.
Better Food System
- We also believe in strengthening our home-grown communities, giving priority to small farmers over giant food companies.
- By working straight with these small farmers, we make sure that you can make the freshest produce.
- Your money goes straight to the farm and back into your peoples.
- They support local farmers, but they also offer them local artisans and entrepreneurs to bring you staff and personally prepared dishes.
- It has the highest quality ingredients, made with love (as it was before!), For which our bodies are better and for the environment.
Small and strong
- We started as a small group of determined people to help our small local farmers and reduce the gap between farmers and our community.
- Our team now consists of more than 100 people full of food and sustainability fanatics, both in Los Angeles and San Francisco.
- We appreciate thousands of families who support us and our partner farmers and artisans. Together we make a difference in the community and the world!
Buy Grub Market on the go
- Download the Grub Market app for iOS or Android and enjoy the same great features you know and love!
- Now you can buy fresh food from the farm on the go and even get special promotions sent only to the application users. Download the free app today!
Grub Market brings in $ 25 million for growth
- The Grub Market tech-to-table delivery service raised $ 25 million, Tech-Crunch reports.
- WI Harper Group and Digital Garage led the investment with other new investors, including Evolv Ventures backed by Kraft Heinz, University Growth Fund, Arancia International Inc.
- And it also includes Centre-Gold Capital and existing investors ACE & Co., GGV Capital, Fusion Fund, and Bascom Ventures.
- Since its launch in 2015, Grub Market has raised $ 89 million.
- Based on numbers confirmed by a source, the Company’s valuation after this final round is approximately $ 255 million.
- The Company plans to use the $ 25 million to invest in more technology and acquisitions.
- Grub Market has already created its Software-as-a-Service (SaaS) administration platform and offers it as a product to other food industry vendors and suppliers.
- The Company continues to acquire B2B competitors in markets such as Los Angeles and San Diego.
- It is also expanding to New York and New Jersey to expand its business ahead of a public listing.
- According to the report, one of the new fund’s participants, Digital Garage, is a Japanese marketing, payment, and internet services holding company.
- According to the report, it is the first step in bringing the platform to the Asian market, according to Mike, CEO, and founder of Grub Market. Xu.
Grub Market, a bridge between small producers and retail
- The Californian start-up connects the different segments of the food supply chain in a fast and efficient way using technology and super-efficient logistics
- Covid pushes the growth of hi-tech companies specialized in food delivery and e-commerce, especially in organic and healthy products.
- An example is Grub Market, a start-up based in Silicon Valley, California, which acts as a bridge between small agricultural producers and retailers or companies.
- Such as Whole Foods or Hello Fresh.
- The latest round of funding raised $ 60 million from investment firms of BlackRock’s caliber.
Business is between 60 and 70% B2B
- Among customers, more than 500 grocery stores, 8,000 restaurants, and 2,000 corporate offices, business is between 60 and 70%.
- It provides a B2C platform for consumers to order products and other foods and a B2B service – business is between 60 and 70 percent in the B2B sector.
- Grub Market’s customers include more than 500 grocery stores, 8,000 restaurants, and 2,000 corporate offices.
- It provides them with products, especially organic, which they resell directly or create other foods.
- During the pandemic, B2C business also grew “between 300% and 500%, depending on the market,” said Mike Xu, CEO, and founder.
- It connects different segments of the food supply chain quickly and efficiently by leveraging technology.
- It uses AI ( artificial intelligence ), working directly with small manufacturers who would have difficulty selling to retailers.
- For partners, it has developed apps that allow you to manage logistics efficiently.
- Sales of the platform, WholesaleWare, based on revolutionary software, have grown by more than 800% in the last year.
- Grub Market has also conquered some niches: it has become the largest mushroom supplier in Northern California.
- It is the largest supplier of Hawaiian agricultural products in the San Francisco Bay Area.
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