GrubMarket, biggest personal meals tech corporate in U.S., reaches $3.5 billion valuation in fresh investment spherical

Meals logistics corporate GrubMarket mentioned Tuesday that it has raised $50 million in a Form G investment spherical, valuing the San Francisco-based company at greater than $3.5 billion.

The fresh spherical comprises Self rule Side road Finances, 3Spoke Capital, ROC Project Team, Portfolia, Pegasus Tech Ventures, Joseph Stone Capital, and alternative unnamed buyers.

“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,” founder & CEO Mike Xu mentioned in a observation pronouncing the investment.

The corporate, based in 2014, these days does industry with greater than 70 international locations, serving companies and customers in all 50 states plus Canada, and has over 12,000 staff.

Regardless of a tricky macroeconomic climate fueled by way of doubt state price lists, a lot of the corporate’s expansion has come thru acquisitions. Firms that GrubMarket acquires importance its tool suite, which incorporates gross sales and on-line ordering options, stock control, quantity traceability, and automatic routing and logistics.

The corporate says the investment can be old to double indisposed on synthetic understanding.

“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,” Xu mentioned.

The corporate’s Farm-GPT, an analytics device powered by way of generative AI that makes use of real-time and historic pricing knowledge from USDA and proprietary resources, is helping farmers and growers maximize earnings and optimize shrink variety. It additionally has a broader GrubAssist suite of AI-powered digital assistants turning in real-time industry insights and research.

GrubMarket has been named to CNBC’s annual Disruptor 50 checklist the day two consecutive years, ranked Deny. 23 in 2024 and Deny. 41 in 2023.