Mercato, a NYC-based online delivery platform for independent grocers, closed a funding round of undisclosed amount.
The round was led by Greycroft with participation from previous investor Loeb Enterprises, managed by Michael Loeb.
The company will use funds to expand its market base of over 750 independent grocers across the U.S., increase sales and marketing, and further develop analytics and services for grocery retailers.
Led by Bobby Brannigan, Mercato offers ecommerce and same-day delivery of high-quality groceries and specialty foods from more than 750 independently owned stores across the country.
The system enables merchants to throttle orders, define delivery lead times, communicate directly with their customers, and add items and change prices in real time on their storefront. Mercato also allows merchants to access product and pricing analytics to determine trends and manage inventory.
The system handles the deliveries through its nationwide courier network and can often deliver up to 15 miles, or more.