Green Rabbit, a Braintree, Mass.-based e-commerce cold chain logistics provider to the food industry, secured $31m in its first funding.
Guidepost Growth Equity, a growth equity firm focused on high-growth technology companies, made the investment. As part of it, Doug Kingsley and Won Park from Guidepost will join the Green Rabbit Board of Directors.
The company will use the funds to continue its growth in the $20 billion e-commerce food and grocery delivery market by adding additional talent to its workforce and further developing its supply chain automation capabilities.
Led by Greg Balestrieri, co-founder and Chief Executive Officer, Green Rabbit provides large retailers, grocers, and CPG brands with a proprietary supply chain technology platform that automates the entire distribution, fulfillment and delivery process – providing businesses with real-time visibility into each order, ensuring that perishables are delivered fresh, on-time and economically. Six of the ten largest retailers in the U.S. and four of the ten largest global food and beverage manufacturers already use Green Rabbit’s solutions to maximize the value of their digital food delivery initiatives.
Initially founded as Candy.com, Green Rabbit managed primarily temperature-sensitive, confectionery products. The company has since expanded its services and capabilities to ship millions of orders per year for more than 5,000 perishable items across 150 brands.