Funding round
GrubMarket Series C
GrubMarket, which works in food wholesale and distribution in United States, raised $25M in a Series C round announced on 5 Apr 2019, led by WI Harper Group and Digital Garage, at a $255M post-money valuation. 10 firms took part. It is GrubMarket's fifth venture round on record; the one before was a Growth in Jul 2018.
$25M
Amount raised
$255M
Post-money valuation
$230M pre-money
10
Investors
2 leads
9.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced GrubMarket at $255M after the new money. The $25M bought investors about 9.8% of the company. It came 9 months after GrubMarket's Growth. It is 4.4% of the $569M GrubMarket has raised in the venture rounds on record. GrubMarket raised again 18 months later: a Series D round of $60M in Oct 2020, at $500M 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 10 Jul 2018, led by GGV $32M
- Series C this round 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
WI Harper Group and Digital Garage led the round with 8 other firms.
Lead investors
- backs 32 venture-backed companies new investor
- Digital Garage new investor
Also in the round
- Evolv Ventures new investor
- backs 11 venture-backed companies new investor
- Arancia International new investor
- new investor
- backs 29 venture-backed companies new investor
- GGV Capital new investor
- backs 40 venture-backed companies new investor
- Bascom Ventures 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 and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Groceries Delivery, then Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Groceries Delivery | 21 Apr 2019 | $20M | not disclosed | Mirae Asset-Naver Growth Fund and Naver |
| Loans & Financing | 9 Apr 2019 | $170M | not disclosed | Foundation Capital and Visa |
| Tech Companies | 24 Apr 2019 | $100M | $850M | Access Industries |
| Armis Tech Companies | 11 Apr 2019 | $65M | not disclosed | Sequoia Capital |
| Tonal Fitness Equipment | 4 Apr 2019 | $45M | not disclosed | L Catterton |
| Software Development Services | 2 Apr 2019 | $41M | not disclosed | China-Belarus Industrial Investment Fund |
| Tech Companies | 3 Apr 2019 | $38M | not disclosed | Summit Partners |
| Tech Companies | 17 Apr 2019 | $33M | not disclosed | Battery Ventures |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did GrubMarket raise in its Series C round?
GrubMarket raised $25M in its Series C round, announced in Apr 2019.
Who led GrubMarket's Series C round?
WI Harper Group and Digital Garage led it, with Evolv Ventures, University Growth Fund, Arancia International, CentreGold Capital and ACE & Company and 3 more.
What was GrubMarket's valuation at the Series C round?
$255M post-money ($230M pre-money).
Did GrubMarket raise again after this round?
Yes: a Series D round in Oct 2020 of $60M at $500M post-money.