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Total amount raised
$908M
Latest funding date
2026-02-02
Location
GrubMarket has raised over $908 million in disclosed funding across 13 rounds, backed by investors including Tiger Global Management, BlackRock, Liberty Street Funds, GGV Capital, Y Combinator, and General Mills' 301 INC.
Keep reading to explore GrubMarket's fundraising journey, from its 2015 seed round to its 2026 Series H.
GrubMarket has raised over $908 million in disclosed funding across 13 rounds, backed by investors including Tiger Global Management, BlackRock, Liberty Street Funds, GGV Capital, Y Combinator, and General Mills' 301 INC.
Keep reading to explore GrubMarket's fundraising journey, from its 2015 seed round to its 2026 Series H.
What Is GrubMarket?
GrubMarket is an AI-powered food technology and e-commerce company headquartered in San Francisco, California. Founded in 2014 by CEO Mike Xu, GrubMarket operates as a technology enabler and digital transformer of the American food supply chain industry, connecting farmers and food producers directly with businesses and consumers. Its proprietary platform includes e-commerce software, supply chain management, logistics optimization, and SaaS tools for distributors. The company operates across all 50 U.S. states and Canada, and has achieved $4 billion in annualized transaction volume. GrubMarket has been named to the CNBC Disruptor 50 list in 2023, 2024, and 2025.
How Much Funding Has GrubMarket Raised?
- Seed Round
- Amount Raised: USD 2,100,000
- Date: January 2015
- Lead Investors: Y Combinator
- Other Participants: GGV Capital, Newgen Venture Partners, FJ Labs, Max Ventures, Jerry Yang, Yigang Wang
- Series A
- Amount Raised: USD 10,000,000
- Date: September 2015
- Lead Investors: Fosun Group
- Other Participants: Y Combinator, Battery Ventures, GGV Capital, AME Cloud Ventures, Legend Capital, Fosun Kinzon Capital
- Series B
- Amount Raised: USD 20,000,000
- Date: August 2016
- Lead Investors: Undisclosed
- Other Participants: Sound Ventures, Global Founders Capital, GGV Capital, Fosun, DHVC, Riverhead Capital, Fabrice Grinda, Gang Wang
- Series B Extension
- Amount Raised: USD 32,000,000
- Date: July 2018
- Lead Investors: GGV Capital
- Other Participants: Fusion Fund, Great Oaks Venture Capital, Millennium Technology Value Partners, Alumni Ventures, Max Ventures, Trinity Capital
- Series C
- Amount Raised: USD 28,200,000
- Date: February 2019
- Lead Investors: WI Harper Group, DG Ventures
- Other Participants: Evolv Ventures, University Growth Fund, CentreGold Capital, GGV Capital, Fusion Fund, Alumni Ventures, ACE Ventures
- Series D
- Amount Raised: USD 90,000,000
- Date: October 2020
- Lead Investors: BlackRock, Celtic House Venture Partners
- Other Participants: Marubeni Ventures, GGV Capital, WI Harper Group, Sixty Degree Capital, Digital Garage, CentreGold Capital, Scrum Ventures, Madison Bay Capital Partners, The Strand Partners, SAIC Capital, Reimagined Ventures, Mojo Partners, Trinity Capital, ACE Ventures, ACE & Company
- Series E (Tranche 1)
- Amount Raised: USD 120,000,000
- Date: September 2021
- Lead Investors: Liberty Street Funds, Walleye Capital, Japan Post Capital, Joseph Stone Capital, Pegasus Tech Ventures, Tech Pioneers Fund
- Other Participants: INP Capital, Celtic House Asia Partners, Reimagined Ventures
- Series E (Tranche 2)
- Amount Raised: USD 145,000,000
- Date: October 2021
- Lead Investors: Tiger Global Management
- Other Participants: BlackRock, Liberty Street Funds, Apeira Capital Advisors, Japan Post Capital, WE Capital, Walleye Capital, Celtic House Asia Partners, INP Capital, Gaingels, RIV Capital, Pegasus Tech Ventures
- Series E (Tranche 3)
- Amount Raised: USD 241,000,000
- Date: November 2021
- Lead Investors: Tiger Global Management
- Other Participants: BlackRock, Liberty Street Funds, Apeira Capital Advisors, Japan Post Capital, WE Capital, Walleye Capital, Celtic House Asia Partners
- Series F
- Amount Raised: USD 120,000,000
- Date: September 2022
- Lead Investors: General Mills 301 INC
- Other Participants: Squarepoint Capital, Portfolia, Grosvenor Food & AgTech, Tiger Global Management, Liberty Street Funds, Walleye Capital, Celtic House Asia Partners, Apeira Capital
- Series G
- Amount Raised: USD 50,000,000
- Date: March 18, 2025
- Lead Investors: Liberty Street Funds, 3Spoke Capital, ROC Venture Group, Portfolia, Pegasus Tech Ventures, Joseph Stone Capital
- Post-Money Valuation: Over $3.5 billion
- Series H
- Amount Raised: USD 50,000,000
- Date: February 2, 2026
- Lead Investors: Future Food Fund (listed first; no single lead investor explicitly named)
- Other Participants: Portfolia Funds, Liberty Street Funds, RD Heritage Group, Flume Ventures, MY Securities
- Pre-Money Valuation: $4.5 billion
Total Amount Raised: At least $908M based on disclosed funding across 13 rounds (including Seed through Series H, per Tracxn). Note: Some Series E tranches may be counted differently across sources; cumulative total based on best available public data.
Key Investors
- Tiger Global Management
- Details: Tiger Global led GrubMarket's Series E rounds (October and November 2021), helping the company achieve unicorn status at a $1.2 billion valuation. Tiger Global also participated in the Series F round.
- BlackRock
- Details: BlackRock co-led the Series D round in October 2020 alongside Celtic House Venture Partners, and participated in subsequent Series E rounds, marking one of its notable food tech investments.
- Liberty Street Funds
- Details: Liberty Street Funds has been one of GrubMarket's most consistent investors, participating in Series E, Series F, Series G, and Series H rounds.
- GGV Capital
- Details: An early backer from GrubMarket's Seed and Series A rounds, GGV Capital continued investing through Series B Extension and Series C, providing foundational support for GrubMarket's growth.
- Y Combinator
- Details: Y Combinator admitted GrubMarket to its Winter 2015 cohort and contributed to the $2.1M Seed round, providing critical early-stage support for the company's launch.
- General Mills 301 INC
- Details: General Mills' venture arm led the Series F round in September 2022, backing GrubMarket at a valuation of over $2 billion and reflecting strategic interest from major food industry players.
- Future Food Fund
- Details: Future Food Fund was a primary investor in GrubMarket's most recent Series H round in February 2026, supporting the company's AI and e-commerce expansion at a $4.5 billion pre-money valuation.
What's Next for GrubMarket?
With its Series H funding secured, GrubMarket is poised to accelerate its AI-driven transformation of the food supply chain industry. The company plans to expand its e-commerce capabilities globally while deepening its AI software offerings. GrubMarket's growing valuation and consistent investor backing signal strong confidence in its long-term vision of becoming the dominant technology platform for food distribution across the United States and beyond.
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