GrubMarket raises $50M to fuel growth and AI

March 18, 2025

GrubMarket has raised around $50 million in a significantly higher valuated Series G funding round, valuing the company at over $3.5 billion.

"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," said Mike Xu, CEO of GrubMarket.

"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," said Xu.

"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," said Xu.

The company said it is using technology to fundamentally transform the American and global food supply chain. GrubMarket's 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.

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