GrubMarket, based in San Francisco, was founded in 2014 by CEO Mike Xu. The food tech/eCommerce company operates in the food supply chain, serving both business customers and end consumers in the U.S., Canada, Latin American, South Africa, and Spain. The company also provides SAAS solutions to digitally transform businesses throughout the food supply chain. In October, the company completed the acquisition of Vernon, Calif.-based Rainfield Marketing Group, a well-known fresh produce company that provides fruits, vegetables, and Asian specialty items.
GrubMarket has attracted more than 40 investors, including BlackRock, Fusion Fund, GGV Capital, Great Oaks Venture Capital, Y Combinator, and Scrum Ventures. The company has raised $519 million in funding over nine rounds, the latest of which was in September 2022. Its last known valuation was $2.19 billion and has not publicly communicated an intention to IPO.