Funding round
GrubMarket Series E
GrubMarket, which works in food wholesale and distribution in United States, raised $200M in a Series E round announced on 16 Nov 2021, led by Tiger Global, at a $1.20B post-money valuation. 30 firms took part, with 2 individual investors. It is GrubMarket's seventh venture round on record; the one before was a Series D in Oct 2020.
$200M
Amount raised
$1.20B
Post-money valuation
$1.00B pre-money
30
Investors
1 lead
2.4x
Step-up from the Series D
$500M in Oct 2020
17%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced GrubMarket at $1.20B after the new money, 2.4 times the $500M of its Series D (Oct 2020). The $200M bought investors about 17% of the company. It came 13 months after GrubMarket's Series D. It is 35% of the $569M GrubMarket has raised in the venture rounds on record. GrubMarket raised again 10 months later: a Series F round of $120M in Sep 2022, at $2.19B 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 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 this round 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
Tiger Global led the round with 29 other firms.
Lead investor
- Tiger Global backs 391 venture-backed companies new investor
Also in the round
- BlackRock new investor
- Liberty Street Funds new investor
- Apeira Capital new investor
- Japan Post Capital new investor
- Celtic House Asia Partners new investor
- We Capital new investor
- Walleye Capital new investor
- backs 6 venture-backed companies new investor
- Moringa Capital Management new investor
- backs 6 venture-backed companies new investor
- backs 12 venture-backed companies new investor
- backs 9 venture-backed companies new investor
- new investor
- Flucas Ventures new investor
- Gaingels backs 364 venture-backed companies new investor
- backs 19 venture-backed companies new investor
- backs 29 venture-backed companies new investor
- backs 15 venture-backed companies new investor
- The Strand Partners new investor
- backs 8 venture-backed companies new investor
- backs 44 venture-backed companies new investor
- backs 24 venture-backed companies new investor
- backs 2 venture-backed companies new investor
- backs 4 venture-backed companies new investor
- backs 3 venture-backed companies new investor
- backs 4 venture-backed companies new investor
- new investor
- Unbound Ventures new investor
- new investor
Individual investors: Christian Edler and Blake Coler-Dark.
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Groceries Delivery, then Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Groceries Delivery | 17 Mar 2022 | $768M | $11.80B | Mubadala |
| Helion Renewable energy companies | 5 Nov 2021 | $500M | $3.00B | Sam Altman |
| Socure Tech Companies | 9 Nov 2021 | $450M | $4.50B | Accel and T. Rowe Price |
| Tiki Decorators & Interior Designers | 9 Nov 2021 | $258M | $1.00B | AIA Group |
| HoneyBook Tech Companies | 3 Nov 2021 | $250M | $2.40B | Tiger Global |
| Verbit Tech Companies | 23 Nov 2021 | $250M | $2.00B | Third Point Ventures |
| Real Estate - Agents & Managers | 23 Nov 2021 | $210M | $1.00B | Tiger Global and General Atlantic |
| Workato Tech Companies | 10 Nov 2021 | $200M | $5.70B | Battery Ventures |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did GrubMarket raise in its Series E round?
GrubMarket raised $200M in its Series E round, announced in Nov 2021.
Who led GrubMarket's Series E round?
Tiger Global led it, with BlackRock, Liberty Street Funds, Apeira Capital, Japan Post Capital and Celtic House Asia Partners and 24 more.
What was GrubMarket's valuation at the Series E round?
$1.20B post-money ($1.00B pre-money).
Did GrubMarket raise again after this round?
Yes: a Series F round in Sep 2022 of $120M at $2.19B post-money.