GrubMarket
<p><strong><span class="legendSpanClass">SAN FRANCISCO</span></strong> &#8212; GrubMarket, an AI-powered technology enabler and digital transformer of the American food supply chain industry, as well as one of the largest private food technology and eCommerce companies globally, has raised $50 million in Series H financing from Future Food Fund, Portfolia Funds, Liberty Street Funds, RD Heritage Group, Flume Ventures, MY Securities, and other unnamed participants. The round values GrubMarket at a pre-money valuation of $4.5 billion.</p>
<p>This investment follows a series of major milestones for the company. In June 2025, GrubMarket made its largest acquisition in history, acquiring Coast Citrus, a major provider of tropical produce in the U.S. In July 2025, GrubMarket launched the first-ever Inventory Management AI Agent for the food supply chain industry, which streamlines and automates critical inventory workflows. In September 2025, GrubMarket released the Reporting AI Agent, which automates AI-powered business analysis on custom schedules. In April 2025, the company acquired Delta Fresh Produce, a major produce distributor in Arizona. Furthermore, GrubMarket acquired Procurant, a leading Software-as-a-Service eCommerce and trading platform for the fresh produce industry, which facilitates $5.5 billion in Gross Merchandise Volume (GMV) annually for over 850 customers across 14 countries.</p>
<p>&#8220;GrubMarket has experienced an incredible acceleration in growth over the last 12 months and continues to stand out as the largest private food technology company in the United States. Since we have a self-sustaining business model, this funding round was not a necessity; rather, we saw it as an opportunity to align our company&#8217;s valuation with the new level of scale and strength that we have achieved with our eCommerce business growth, our AI-powered tech innovations, and the significant ongoing value we generate for the industry,&#8221; said Mike Xu, CEO of GrubMarket. &#8220;This Series H 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 self-sustaining business as the foundation of this company.&#8221;</p>
<p>As the only Enterprise AI solutions provider for the American food supply chain, a first mover in the tech-enabled B2B food eCommerce space, and a pioneer offering cutting-edge, AI-powered software-as-a-service solutions, GrubMarket uses technology to fundamentally transform the American and global food supply chain. GrubMarket was named to the prestigious CNBC Disruptor 50 list for three consecutive years, in 2023, 2024 and 2025 (No. 20). In April 2025, GrubMarket was named &#8220;Inventory Management Solution Provider of the Year&#8221; by RetailTech Breakthrough Awards. In November 2025, GrubMarket was selected the winner of the 2025 &#8220;Sustainability in the Food Industry Award&#8221; by The Shelby Report. 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, with plans to expand further across the U.S., Canada, South America, Europe, Africa, and other parts of the world. The company does business in over 70 countries globally.</p>
<p>&#8220;Portfolia is proud to be a long-time investor in Mike Xu and the GrubMarket team, through multiple funds. Mike is a brilliant, strategic and persistent executive. The team&#8217;s continued execution success validates our conviction in Mike&#8217;s leadership and in GrubMarket&#8217;s ability to redefine how food moves to our tables. We are thrilled to continue backing their vision to modernize food supply chains,&#8221; said Trish Costello, CEO &; Founder of Portfolia Funds.</p>

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