GrubMarket Raises $50 Million Series G to Fuel Growth and AI as the Largest Private Food Technology Company in the U.S.

We are excited to announce that GrubMarket has successfully raised approximately $50 million in our latest Series G funding round! This marks a significant milestone as it reflects our continued growth and leadership as the largest private food technology company in the United States.

A Major Leap Forward

This Series G funding round, led by prominent investors including Liberty Street Funds, 3Spoke Capital, ROC Venture Group, Portfolia, Pegasus Tech Ventures, Joseph Stone Capital, and others, brings GrubMarket’s valuation to over $3.5 billion. This funding round wasn’t born out of necessity, but rather as a strategic opportunity to align our valuation with the impressive scale and strength of our growth, our innovations in AI technology, and the immense value we deliver to the food supply chain industry.

Kevin Moss, President of The Private Shares Fund and Managing Director of Liberty Street Advisors, stated:

“GrubMarket has rapidly grown into a major food technology company by leveraging best-in-class AI-powered software solutions and strong operational discipline. The company’s growth and scale are supported by established business fundamentals and a commitment to sustainability, benefiting farmers in California and across the U.S. Through persistent innovation in AI enterprise solutions, vertical SaaS operations software, and its eCommerce platform and ecosystem, GrubMarket has become a pioneer in transforming the trillion-dollar American food supply chain industry. Our fund is delighted and honored to be a part of GrubMarket’s exciting journey ahead.”

Aaron Stafford, managing partner of ROC Venture Group, also commented:

“ROC Venture Group continues to invest in GrubMarket, because its technology is transforming the highly fragmented and outdated U.S. food supply chain—eliminating waste, optimizing operations, and delivering fresher, more affordable produce to Americans. Ensuring access to nutritious food should be our foundation—because without it, nothing else truly matters.”

What This Means for GrubMarket and Our Partners

With this new investment, we plan to:

• Accelerate our AI software and business growth.
• Extend our eCommerce reach globally.
• Increase investment in our talented team, financial infrastructure, technology, and strategic acquisitions.
• Maintain and enhance our commitment to operating sustainably.

Innovation at the Core

Underpinning this growth is our industry-leading GrubAssist AI, the first Enterprise AI software suite specifically tailored for the American food supply chain industry. Key components of this groundbreaking technology include:

• Business Analyst AI Assistant: Uses large language models for transformative business intelligence.
• AI Orders Agent: Converts offline ordering information from voicemails, PDFs, and emails into accurate digital orders.
• Cash Flow Analyst AI Assistant: Predicts cash flow patterns to help food wholesalers and distributors manage their finances effectively.

Our CEO, Mike Xu, shared his enthusiasm about this funding milestone:

“GrubMarket has experienced an incredible acceleration in growth over the last 12 months – our revenues surpassed $2 billion in 2024, and we became the largest private food technology company in the United States, while continuing to maintain a strong and healthy financial bottom line. As our business model is highly sustainable, this funding round was not a necessity, but rather an opportunity to align our valuation with the scale and strength of our business growth, our AI tech innovations, and the significant value we create for the industry. In 2024, GrubMarket released the first Enterprise AI software solution suite for the American food supply chain industry. We are proud to innovate within this industry and for this industry. With the help of our patent-pending AI solutions, the lagging American food supply chain industry will be able to catch and ride the massive American and global AI technology wave that has been moving across all industries. This Series G funding will turbocharge our AI software and business growth and extend our eCommerce reach globally. We will increase our investment in people, financial infrastructure, technology, and acquisitions. Above all, we will continue to operate a sustainable business as the foundation of this company.”

Sustainability and Community Impact

Our Sustainable California initiative continues to make significant environmental impacts, from promoting organic farming practices and supporting reforestation to sponsoring tree planting projects and protecting vital agricultural resources. For 2025, we will also support environmental restoration in the Los Angeles area, contributing to recovery efforts from recent catastrophic wildfires.

A Global Vision

This investment follows a series of notable achievements, including expanding our global presence to South Africa, acquiring one of the largest foodservice companies in Texas, and turning around Good Eggs, a major online grocery provider on the West Coast, to profitability within two months post-acquisition.

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. Our vision includes further expansion across North America, South America, Europe, Africa, and beyond, ensuring our cutting-edge technology reaches more partners and customers worldwide.

Join Our Journey

We’re thrilled about the opportunities this funding presents and look forward to continued growth and innovation. Visit GrubMarket AI to learn more about our groundbreaking solutions and how we’re reshaping the global food supply chain.

Join us in celebrating this exciting next chapter for GrubMarket!