Total amount raised
$46 Million
Latest funding date
05/01/2024
Location
Pepper has successfully raised funding over 4 rounds, with the latest being a Series B round led by ICONIQ Growth. The company is backed by 13 investors, including Harmony Partners and Greylock.
As an AI-first platform, Pepper offers a comprehensive suite of products designed to help independent food distributors compete, scale, and win. Keep reading to explore the intricacies of Pepper's fundraising journey and the investors backing this innovative platform.
What Is Pepper?
Pepper is an AI-first platform designed to help independent food distributors enhance their eCommerce capabilities. The company operates in industries such as eCommerce, food and beverage, and wholesale. Based in New York, New York, Pepper employs between 101 and 250 people.
Founded to empower food distributors, convenience stores, and other marketplaces, Pepper offers a comprehensive suite of products. These include order guides, order fulfillment, delivery tracking, promotional campaigns, sales engagement, smart ordering, enriched catalog data, digital marketing, and payments infrastructure.
How Much Funding Has Pepper Raised?
- Seed Round (2019-09-01)
- Amount Raised: USD 4,000,000
- Date: September 2019
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial development and launch of Pepper's eCommerce platform.
- Seed Round (2020-06-04)
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and expand the platform's capabilities.
- Series A (2021-11-30)
- Amount Raised: USD 16,000,000
- Date: November 2021
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series B (2024-05-13)
- Amount Raised: USD 30,000,000
- Date: May 2024
- Lead Investors: ICONIQ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive product innovation in eCommerce experience, CRM tools, generative AI, and analytics.
Total Amount Raised: USD 50,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- ICONIQ Growth
- Details: ICONIQ Growth is a growth equity firm that partners with exceptional entrepreneurs. They provide an investment platform and unique ecosystem to amplify portfolio companies' success from early growth stages to IPO and beyond.
- Investment Focus Areas: Technology, software, consumer internet
- Notable Investments: Snowflake, Datadog, Uber
- Index Ventures
- Details: Index Ventures is a global venture capital firm investing in technology-enabled companies. They support companies at various stages, from seed to growth.
- Investment Focus Areas: Fintech, enterprise software, e-commerce
- Notable Investments: Dropbox, Slack, Robinhood
- Greylock
- Details: Greylock is a venture capital firm focused on early-stage investments. They partner with entrepreneurs to build market-transforming companies.
- Investment Focus Areas: Consumer internet, enterprise software, healthcare
- Notable Investments: Facebook, LinkedIn, Airbnb
- Imaginary
- Details: Imaginary focuses on early-stage investments in the consumer sector. They aim to support innovative consumer technology companies.
- Investment Focus Areas: Consumer technology, innovation
- Notable Investments: Glossier, Everlane
- Harmony Partners
- Details: Harmony Partners provides growth capital to technology companies. They focus on supporting companies through their growth stages.
- Investment Focus Areas: Technology, growth-stage companies
- Notable Investments: InVision, Greenhouse
What's Next for Pepper?
Pepper's future looks promising with significant opportunities for growth. The recent $30 million Series B funding will enable the company to advance product innovation in eCommerce, CRM tools, generative AI, and analytics. This financial backing positions Pepper to expand its customer base and enhance its offerings, solidifying its role as a trusted technology partner in the food distribution industry.
Future fundraising opportunities appear likely, given the strong support from high-profile investors like ICONIQ Growth, Index Ventures, and Greylock. As Pepper continues to innovate and grow, additional funding rounds could further accelerate its development and market reach. However, the company will need to navigate challenges such as rapid technological advancements and maintaining a competitive edge in a dynamic market.
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