Mercato, an e-commerce platform for independent grocers and specialty food stores, has raised $26 million in a Series A funding round led by Ventures and Perez. The funding round also saw participation from existing investors Greycroft and Loeb.nyc, as well as new investors like Almanac Insights, Corazon Capital, and others. With this latest funding round, Mercato plans to expand its services to more independent grocers and food stores across the United States.
About Mercato
Mercato was founded in 2015 by Bobby Brannigan, a tech entrepreneur who previously co-founded Beyond.com. The company provides an e-commerce platform for independent grocers and specialty food stores, allowing them to compete with larger chains and online retailers. The platform offers a range of features, including online ordering, delivery, and marketing tools, to help these smaller businesses reach new customers and grow their sales.
The company’s mission is to help independent grocers and specialty food stores thrive in an increasingly competitive market. By providing them with the tools and support they need to succeed, mercato 26m series venturespereztechcrunch
is helping to create a more diverse and vibrant food retail ecosystem.
Series A Funding
The Series A funding round was led by Ventures and Perez, two prominent venture capital firms with a track record of backing successful tech startups. Ventures has previously invested in companies like Airbnb, Square, and Slack, while Perez has backed companies like Uber, DoorDash, and Postmates.
The funding round was oversubscribed, with mercato 26m series venturespereztechcrunch
raising more than its initial target of $20 million. In addition to the lead investors, the round saw participation from a range of other investors, including Almanac Insights, Corazon Capital, and others.
Expanding to More Independent Grocers
With this latest funding round, mercato 26m series venturespereztechcrunch
plans to expand its services to more independent grocers and specialty food stores across the United States. The company currently operates in more than 45 states, serving thousands of businesses, but it sees a huge opportunity to reach even more customers.
According to Bobby Brannigan, the founder and CEO of Mercato, “There are more than 40,000 independent grocers and specialty food stores in the US, and they represent a massive opportunity for growth. By providing them with the tools and support they need to succeed in today’s market, we can help these businesses thrive and create a more diverse and vibrant food retail ecosystem.”
Conclusion
Mercato’s latest funding round is a significant milestone for the company and for independent grocers and specialty food stores across the United States. With the support of prominent investors like Ventures and Perez, mercato 26m series venturespereztechcrunch
is well-positioned to expand its services and reach more customers than ever before. By providing these smaller businesses with the tools and support they need to compete with larger chains and online retailers, Mercato is helping to create a more diverse and vibrant food retail ecosystem.
