Key Takeaways
- GrubMarket has raised approximately $50 million in Series H financing at a $4.5 billion pre-money valuation.
- The funding round was led by Future Food Fund and Portfolia Funds, with participation from several other investors.
- GrubMarket plans to accelerate AI software development, global eCommerce expansion, and strategic acquisitions.
- The company has completed multiple acquisitions and AI product launches over the past year.
- GrubMarket continues to operate with a self-sustaining business model while scaling globally.
GrubMarket Secures Series H Financing to Support Global Expansion
GrubMarket announced that it has raised approximately $50 million in Series H financing, valuing the company at a pre-money valuation of $4.5 billion. The funding round included participation from Future Food Fund, Portfolia Funds, Liberty Street Funds, RD Heritage Group, Flume Ventures, MY Securities, and other investors.
The company stated that the capital raise follows a period of accelerated growth, marked by acquisitions and the rollout of artificial intelligence-driven software tools for the food supply chain. GrubMarket noted that the funding was not required for operations, but rather intended to align valuation with the company’s expanded scale and capabilities.
GrubMarket Advances AI and M&A Strategy Across the Food Supply Chain
GrubMarket Expands Technology and Platform Capabilities
Over the past year, GrubMarket completed several acquisitions, including Coast Citrus, Delta Fresh Produce, and Procurant, a software platform facilitating approximately $5.5 billion in annual gross merchandise volume across global produce markets. The company also introduced multiple AI-powered tools, including an Inventory Management AI Agent and a Reporting AI Agent designed to automate business analysis and operational workflows.
“These milestones reflect the strength of our eCommerce growth and AI-powered innovations,” said Mike Xu, CEO of GrubMarket. “This Series H funding will turbocharge our AI software and business growth, extend our eCommerce reach globally, and support continued investment in people, technology, and acquisitions.”
Investors Highlight Confidence in GrubMarket’s Execution and Vision
Investors participating in the round cited GrubMarket’s execution track record and profitability as key factors supporting continued investment.
“Mike Xu and the GrubMarket team have consistently demonstrated strong execution and strategic leadership,” said Trish Costello, CEO and Founder of Portfolia Funds. “We remain confident in the company’s ability to modernize food supply chains at scale.”
Hiro Hasegawa, Venture Partner at Future Food Fund, added that GrubMarket’s operational discipline and global ambitions position it well for its next phase of growth.
Maintains Focus on Sustainability and Global Operations
GrubMarket operates across all 50 U.S. states and in more than 70 countries globally. Alongside its commercial expansion, the company continues its Sustainable California initiative, which supports organic farming, reforestation, and technology access for farmers.
The company stated that the Series H funding will support further geographic expansion across North America, South America, Europe, Africa, and additional international markets while maintaining a profitable and self-sustaining operating model.
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