GrubMarket, largest private food tech company in U.S., reaches $3.5 billion valuation in new funding round

Food logistics company GrubMarket said Tuesday that it has raised $50 million in a Series G funding round, valuing the San Francisco-based firm at more than $3.5 billion. The new round includes Liberty Street Funds, 3Spoke Capital, ROC Venture Group, Portfolia, Pegasus Tech Ventures, Joseph Stone Capital, and other unnamed investors. "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 said in a statement announcing the funding. The company, founded in 2014, currently does business with more than 70 countries, serving businesses and consumers in all 50 states plus Canada, and has over 12,000 employees. ... Read full article.