Mable Raises $8.5 Million Series A Round to Connect Grocery Stores, Emerging Brands, and Regional Distributors
BOSTON, MA - It is always great to see companies coming together to help each other grow. This is the case as Mable, the digital platform that offers wholesale ordering to regional distributors, emerging brands, and independent grocers, has announced that it has secured over $8.5 million in its Series A funding round. The new investment will allow the company to not only build its network of distribution partners, but expand its team and product capabilities.
"We're the only platform connecting all three constituents in the grocery space. Three years ago, I purchased a small grocery store and was shocked at how inefficient it was to discover new brands and keep the shelves stocked. So, in early 2020, I launched Mable to make it easier for stores, brands, and regional distributors to work together,” explained Arik Keller, Founder and CEO. “Our goal is to level the playing field with a solution that will completely change the way inventory gets from a supplier to a shelf."
Placing its focus on the grocery market, Mable works to connect brands, regional distributors, and retailers to create a more efficient and successful inventory procurement system, according to a press release. By giving brands a new distribution channel, it enhances access to new products with an easy way to restock their shelves and gives distributors a way to offer their customers advanced e-commerce solutions.
It appears as if fresh is the works as well for this up-and-coming team.
“We have big plans to expand into perishable items. A large part of our business is offering online ordering solutions for distributors, so our end users (the grocery buyer) can do all of their ordering (from distributors and direct brands) in one place,” Alex Temple, Director of Marketing, shares with me. “That includes fresh produce brands, fresh meat, household items, and everything in between.”
The Series A funding round was led by Venrock along with existing investors Accomplice and Founder Collective as well as new investor Underscore. With the new investment in the company, Mable will be able to continue removing barriers that often keep start-up food brands and grocery stores from entering the market.
Mable now has over 600 brands and 6,000 products on its site, and touts an 80 percent success rate of connecting the brands to new retail accounts.
How will Mable continue to expand across the grocery sector and become an even more valuable partner for the buy-side? And, could the company be further tapping fresh produce as an area of growth? Keep a tab open for AndNowUKnow for answers.