GrubMarket, a San Francisco, CA-based food technology company, has raised $50 million in Series G funding round, valuing the company at over $3.5 billion.
Investors
The round was led by Liberty Street Funds, with participation from 3Spoke Capital, ROC Venture Group, Portfolia, Pegasus Tech Ventures, Joseph Stone Capital, and other unnamed participants.
Liberty Street Advisors, founded in 2007 and based in New York City, is an investment advisory firm managing around $1.39 billion in assets. Its primary offering is the Private Shares Fund, which invests in late-stage, growth-stage private companies. The firm also manages mutual funds and has a track record of strong returns for its Private Shares Fund, including an annualized return since inception.
GrubMarket Use of Funds
The company will use the funds to accelerate its AI software development, expand its eCommerce reach globally, and invest in people, financial infrastructure, technology, and acquisitions.
About GrubMarket
Founded in 2014 by Mike Xu, GrubMarket develops and provides a suite of AI-powered software-as-a-service solutions designed to optimize the operations of the food supply chain. Its solutions cover inventory, warehouse management, grower accounting, HR, eCommerce, payments, custom mobile apps for food wholesalers, distributors, and brokers; and CSA management for farmers. GrubMarket’s eCommerce platform connects food producers (like farms) with buyers such as grocery stores, restaurants, schools, hotels, and even individual consumers. GrubMarket operates globally, serving customers in over 70 countries, and employs over 12,000 people worldwide.
Funding Details
Company: GrubMarket, Inc.
Raised: $50.0M
Round: Series G
Funding Date: March 2025
Lead Investor: Liberty Street Funds
Additional Investors: 3Spoke Capital, ROC Venture Group, Portfolia, Pegasus Tech Ventures, Joseph Stone Capital
Company Website: https://www.grubmarket.com/
Software Category: AI Food Supply Chain
Source: https://www.prnewswire.com/news-releases/grubmarket-raises-50-million-series-g-to-fuel-growth-and-ai-as-the-largest-private-food-technology-company-in-the-us-302403846.html