GrubMarket Announces Acquisition of Farmigo to Expand Software Offerings to American Farms; Mike Xu and Benzi Ronen Share
SAN FRANCISCO, CA - GrubMarket is marking off acquisitions like spaces on a checkerboard as it works to build its prowess in the fresh produce industry. The wholesaler has recently revealed a multitude of pivotal agreements, with its latest being the acquisition of Farmigo, a provider of community-supported agriculture (CSA) software.
"Farmigo is a pioneer in building the business-to-consumer (B2C) eCommerce platform for farms,” said GrubMarket Chief Executive Officer Mike Xu. “As a profitable, cloud-based software platform, it serves hundreds of farms in the U.S. and is a major player in this space. Benzi and [his] team have built a terrific software product that farms and their customers love. This acquisition enables GrubMarket to further deepen its software domain knowledge in working with growers and offer our producer partners additional software to help reach more customers and grow their profits. Moreover, this acquisition opens the door for GrubMarket to become a software platform for B2C side of the American food supply chain industry. This completes our software offering to power up both B2B and B2C activities in this industry. We are excited to welcome the Farmigo team to the GrubMarket family. Together, we will build a greater customer base and a stronger producer network in the food ecosystem nationwide."
According to a press release, Farmigo was founded in 2009 by Benzi Ronen and Yossi Pik as a cloud-based software system for farms to manage their CSA subscriptions, and has since provided technology to hundreds of CSA farms in 25 states, connecting them to more than 3,000 communities.
Beginning July 2016, Farmigo's business began to focus exclusively on its CSA Software Management platform, which connects local farms directly to consumers through food communities—such as workplaces, schools, apartment complexes, and community centers.
"We are excited to join the GrubMarket team and welcome the opportunities brought forth by GrubMarket's strong network and technology team,” said Benzi Ronen, Co-Founder and Chief Executive Officer of Farmigo. “We are constantly striving for the best software product for farmers. We are thrilled to learn that GrubMarket shares this same goal. We sincerely look forward to joining the GrubMarket team and bringing Farmigo to the next level of success."
Following the acquisition, Farmigo's CSA software will become an addition to GrubMarket's software product family, which already includes its proprietary WholesaleWare software suite, a B2B Software-as-a-Service platform providing food industry suppliers with financial management, easy-to-use online ordering and sales, precise inventory management, and engaging CRM tools.
Only time and AndNowUKnow will tell what growth is to come of this crucial acquisition, so keep an eye out for our next update.