Forager, a Portland, ME – based company focused on connecting local farmers with grocers to bring consumers healthy, locally sourced food, raised $4M in funding.
The round was led by a number of private investors including Duncan Saville of ICM Limited, an international fund managing more than $2BN in funds, and Coastal Enterprises Inc. (CEI), a social impact fund focused on environmentally sustainable enterprises, among others.
The company intends to use the funds to further develop sales channels, build out key product features and upgrades that address both the grocer and farmer needs.
Led by David Douglas Stone, Founder and Executive Chairman, Forager provides an online and mobile platform that digitizes and streamlines local food procurement-to-payment process, saving time and costs for grocers, co-ops, farmers, producers, and other buyers and sellers of local food. The company also has a proprietary system that finds and vets new suppliers.
Recently, Forager partnered with Massachusetts based Roche Bros. Supermarkets, Inc. and Bashas’ Family of Stores across Arizona. The company now operates in over 12 states with more than 40 grocers and institutions, and 500 local suppliers.
FinSMEs
14/05/2021