Funding round
GrubMarket Growth
Reported as "Growth Equity"
GrubMarket, which works in food wholesale and distribution in United States, raised $32M in a Growth round announced on 10 Jul 2018, led by GGV. 12 firms took part. It is GrubMarket's fourth venture round on record; the one before was a Series B in Aug 2016.
$32M
Amount raised
Not disclosed
Post-money valuation
12
Investors
1 lead
Valuation
What this round says about the price
GrubMarket did not disclose a valuation in this round. It came 23 months after GrubMarket's Series B. It is 5.6% of the $569M GrubMarket has raised in the venture rounds on record. GrubMarket raised again 9 months later: a Series C round of $25M in Apr 2019, at $255M post-money.
GrubMarket's funding rounds
GrubMarket has 10 venture rounds on record. This one is highlighted.
- Seed 27 Jan 2015 $2.1M
- Series A 1 Sep 2015, led by Fosun $10M
- Series B 4 Aug 2016 $20M
- Growth this round 10 Jul 2018, led by GGV $32M
- Series C 5 Apr 2019, led by WI Harper Group and Digital Garage $25M$255M post-money
- Series D 5 Oct 2020 $60M$500M post-money
- Series E 16 Nov 2021, led by Tiger Global $200M$1.20B post-money
- Series F 27 Sep 2022, led by 301 Inc $120M$2.19B post-money
- Series G 18 Mar 2025 $50M$3.50B post-money
- Series H+ 2 Feb 2026 $50M$4.55B post-money
Investors
Who put money in
GGV led the round with 11 other firms.
Lead investor
- GGV new investor
Also in the round
- backs 40 venture-backed companies new investor
- backs 104 venture-backed companies new investor
- backs 26 venture-backed companies new investor
- Castor Ventures new investor
- backs 11 venture-backed companies new investor
- backs 24 venture-backed companies new investor
- new investor
- backs 44 venture-backed companies new investor
- new investor
- backs 7 venture-backed companies new investor
- Wells Fargo Strategic Capital new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Groceries Delivery, then Growth rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Rappi Groceries Delivery | 31 Aug 2018 | $200M | $1.00B | DST Global |
| Juul Labs Tobacco | 2 Jul 2018 | $1.20B | $15.00B | not named |
| BITMAIN Device Manufacturing | 30 Jul 2018 | $422M | $14.00B | not named |
| Real Estate - Agents & Managers | 16 Jul 2018 | $250M | not disclosed | La Caisse |
| Trucking and Logistics | 13 Jul 2018 | $250M | not disclosed | InnoVision Capital |
| MediaMath Tech Companies | 10 Jul 2018 | $225M | $1.00B | Searchlight Capital |
| Tech Companies | 31 Jul 2018 | $130M | not disclosed | TPG |
| Tech Companies | 9 Jul 2018 | $80M | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did GrubMarket raise in its Growth round?
GrubMarket raised $32M in its Growth round, announced in Jul 2018.
Who led GrubMarket's Growth round?
GGV led it, with Fusion Fund, Great Oaks Venture Capital, Max Ventures, Castor Ventures and Millennium Technology Value Partners and 6 more.
What was GrubMarket's valuation at the Growth round?
It was not disclosed.
Did GrubMarket raise again after this round?
Yes: a Series C round in Apr 2019 of $25M at $255M post-money.