SAN FRANCISCO, Feb. 2, 2026 /PRNewswire/ — GrubMarket, the AI-powered technology enabler and digital transformer of the American food supply chain industry, as well as one of the largest private food technology and eCommerce companies globally, announced today that it has raised around $50 million in Series H financing from Future Food Fund, Portfolia Funds, Liberty Street Funds, RD Heritage Group, Flume Ventures, MY Securities, and other unnamed participants. This significantly up round values GrubMarket at a pre-money valuation of $4.5 billion.

This investment round follows a series of major milestones for the company. In June 2025, GrubMarket made its largest acquisition in history, acquiring Coast Citrus, a major provider of tropical produce in the U.S. In July 2025, GrubMarket launched the first-ever Inventory Management AI Agent for the food supply chain industry, which streamlines and automates critical inventory workflows. In September 2025, GrubMarket released the Reporting AI Agent, which automates AI-powered business analysis on custom schedules. In April 2025, the company acquired Delta Fresh Produce, a major produce distributor in Arizona. Furthermore, GrubMarket acquired Procurant, a leading Software-as-a-Service eCommerce and trading platform for the fresh produce industry, which facilitates $5.5 billion in Gross Merchandise Volume (GMV) annually for over 850 customers across 14 countries.

“GrubMarket has experienced an incredible acceleration in growth over the last 12 months and continues to stand out as the largest private food technology company in the United States. Since we have a self-sustaining business model, this funding round was not a necessity; rather, we saw it as an opportunity to align our company’s valuation with the new level of scale and strength that we have achieved with our eCommerce business growth, our AI-powered tech innovations, and the significant ongoing value we generate for the industry,” said Mike Xu, CEO of GrubMarket. “This Series H funding will turbocharge our AI software and business growth, and extend our eCommerce reach globally. We will increase our investment in people, financial infrastructure, technology, and acquisitions. Above all, we will continue to operate a self-sustaining business as the foundation of this company.”

As the only Enterprise AI solutions provider for the American food supply chain, a first mover in the tech-enabled B2B food eCommerce space, and a pioneer offering cutting-edge, AI-powered software-as-a-service solutions, GrubMarket uses technology to fundamentally transform the American and global food supply chain. GrubMarket was named to the prestigious CNBC Disruptor 50 list for three consecutive years, in 2023, 2024 and 2025 (No. 20). In April 2025, GrubMarket was named “Inventory Management Solution Provider of the Year” by RetailTech Breakthrough Awards. In November 2025, GrubMarket was selected the winner of the 2025 “Sustainability in the Food Industry Award” by The Shelby Report. Today, GrubMarket operates in all 50 U.S. States and has a global presence in Argentina, Canada, Chile, Colombia, Egypt, India, Mexico, South Africa, and Spain, with plans to expand further across the U.S., Canada, South America, Europe, Africa, and other parts of the world. The company does business in over 70 countries globally.

GrubMarket’s Sustainable California initiative has been actively running since 2023, serving as a multi-faceted, company-wide initiative with a mission to preserve California’s farming environment, empower farmers, and reinvigorate the state’s fragile agricultural ecosystem. Since its inception, this initiative has promoted organic farming practices, supported reforestation, and distributed innovative technologies to support a more resilient and sustainable food system. Sustainable California has sponsored the successful planting of over hundreds of thousands of trees in diverse regions throughout the state; supported California farmers seeking organic certification; and contributed efforts towards protecting the State’s natural habitats, watersheds, and farmlands to ensure future agricultural prosperity. GrubMarket’s Sustainable California initiative for 2025 included partnering with One Tree Planted to plant over 100,000 trees in the Sierra Nevada region, which was severely damaged by the 2013 Rim Fire; providing California farmers with free access to GrubMarket’s AI-powered software for the duration of the year; and partnering with CCOF to continue its sponsorship of 10 socially disadvantaged farmers in California to complete the organic transition program and certification process.

“Portfolia is proud to be a long-time investor in Mike Xu and the GrubMarket team, through multiple funds. Mike is a brilliant, strategic and persistent executive. The team’s continued execution success validates our conviction in Mike’s leadership and in GrubMarket’s ability to redefine how food moves to our tables. We are thrilled to continue backing their vision to modernize food supply chains,” said Trish Costello, CEO & Founder of Portfolia Funds.

“As the venture arm of a company that operates a major online platform for fresh produce in Japan, we understand how hard it is to build a long-lasting business at scale, and we are impressed by GrubMarket’s strong execution and profitable growth trajectory. We are excited to support the company’s expansion and help accelerate its next phase of global growth,” said Hiro Hasegawa, Venture Partner of Future Food Fund.

Forward-Looking Statement

This announcement contains forward-looking statements. Forward-looking statements provide our current expectations or forecasts of future events. Forward-looking statements include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “strive,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Examples of forward-looking statements in this announcement include, but are not limited to, statements regarding our disclosure concerning the Company’s operations, cash flows, and financial position.

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