Misfits Market Raises $200M in Series C Funding

Misfits Market

Misfits Market, a Delanco, N.J.-based online grocer that offers quality, sustainably sourced food at a value, raised $200M in Series C funding.

The round was co-led by Accel and D1 Capital, with participation from existing investors Valor Equity Partners, Greenoaks Capital, Sound Ventures, and Third Kind Ventures. In conjunction with the funding, Accel’s Ryan Sweeney will join Misfits Market’s Board of Directors.

The company intends to use the funds to expand into every major grocery category and distribute across every underserved area nationwide.

The oversubscribed round brings the company’s total funding to $301.5M to-date. The only D2C online grocery service delivering quality products discounted up to 40% compared to those offered by premium, on-demand/in-store grocers has officially surpassed ‘unicorn’ status. The funding unlocks its ability to expand into every major grocery category and distribute across every underserved area nationwide to push forward its goal of eliminating food deserts in America by 2025. In tandem with its Series C funding, Accel’s Ryan Sweeney will join Misfits Market’s Board of Directors.

Led by Abhi Ramesh, Founder and CEO, Misfits Market delivers fresh organic produce, sustainably sourced pantry staples, and other grocery items. The company leverages direct relationships with growers and producers to reduce food waste at scale and eliminate inefficiencies in the food system. Misfits Market reaches consumers in every nearly zip code within the states that it serves. Currently, Misfits Market delivers to Alabama, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Utah, Vermont, Virginia, Washington, D.C., West Virginia, and Wisconsin. Grocery boxes can be purchased on a weekly/biweekly basis at www.misfitsmarket.com.

FinSMEs

22/04/2021