SAN
FRANCISCO, May 20, 2024 /PRNewswire/ -- GrubMarket
today announced that it has completed the acquisition of
San Francisco, California-based
Butter, a VC-backed food wholesale software operating system
designed to become the modern system of record for food
distribution. GrubMarket will leverage Butter's AI-powered
eCommerce and payments technologies to expand its suite of
innovative, AI-powered solutions designed for food supply chain
industry, as well as to enhance the functionality of its existing
portfolio of cutting-edge software products including GrubAssist AI
and WholesaleWare, and to solidify its position as the enterprise
AI solution provider for America's food supply chain industry.
Founded in 2020 by machine learning experts Winston Chi and Shangyan Li, Butter's modular
software product suite includes several key offerings, including:
AI-powered, omnichannel sales empowerment tools for automating
repetitive, manual order entry; a cloud-based ERP with real-time
inventory monitoring, customer relationship management, and order
management; a mobile and web-enabled eCommerce solution for
handling online orders; as well as a fully-integrated online
payment solution. Today, Butter has a network of over 11,000 buyers
and works with dozens of foodservice, restaurant, and grocery
customers, processes hundreds of thousands of orders annually, and
facilitates hundreds of millions of dollars in transaction volume
across its platform. After the acquisition, Butter will continue to
be managed by Chi and Li, alongside their mission-driven team of
seasoned engineers with extensive experience in process-heavy
products, ML applications, and foodservice distribution.
"The Butter team is incredibly passionate about helping food
wholesale distributors better run their businesses by building
software and AI that help them grow sales, streamline operations,
and deliver excellent products and services, without drowning in
manual tasks like repetitive phone calls and messy spreadsheet data
entry," said Winston Chi, co-founder
of Butter. "We were keen to join forces with GrubMarket, who shares
our passion for being an AI-powered technology enabler and digital
transformer to drive meaningful change for the food supply chain
industry. GrubMarket's sterling reputation in the industry precedes
them, and we are excited to work together to further GrubMarket's
efforts, particularly around enterprise AI, to revolutionize the
food supply chain industry through transformative
technologies."
"We are thrilled to welcome Butter and its formidable
engineering team to the GrubMarket family," said Mike Xu, CEO of GrubMarket. "We have known about
Butter for a little while now and are impressed with their ability
to leverage advanced AI to build unique software applications that
are highly complementary to our WholesaleWare and GrubAssist AI
products. In addition, while GrubMarket has worked predominantly
with customers in the fresh produce and meat categories, Winston,
Shangyan, and team have built a strong customer base in other
specialty food industries, including seafood. We care deeply about
the food supply chain industry as a whole and want to do everything
we can to empower all players in this space to leverage technology
to run their businesses better. The Butter team shares our passion,
and we are excited to collaborate with them to bolster our
AI-powered software offerings as we continue to simplify,
digitalize, and supercharge the food supply chain."
In addition to activating new products in the GrubMarket AI
suite, Butter's AI-powered eCommerce and payments technologies will
also be integrated into GrubMarket's proprietary, AI-powered ERP
software, WholesaleWare, a software-as-a-service (SaaS) platform
that provides food industry wholesalers and distributors with
seamless financial management, powerful sales support, online
ordering, precise inventory management, lot traceability, grower
accounting, and automated routing and logistics; GrubAssist AI,
GrubMarket's groundbreaking enterprise AI assistant that empowers
food supply chain businesses with deep insights & intelligent
analysis; and Orders IO, GrubMarket's custom branded, mobile
eCommerce solution.
About GrubMarket
Founded in 2014, CA-based GrubMarket is the AI-powered
technology enabler and digital transformer of the American food
supply chain industry, as well as one of the largest private food
tech companies globally. As a first mover in the tech-enabled B2B
food eCommerce space and a pioneer offering cutting-edge,
AI-powered software-as-a-service solutions, GrubMarket uses
technology to fundamentally transform the American and global food
supply chain. GrubMarket has also been named to the
prestigious CNBC Disruptor 50 list for two consecutive years.
GrubMarket operates in all 50 U.S. States and has a global presence
in Argentina, Canada, Chile, Colombia, Egypt, India,
Mexico, South Africa, and Spain, with plans to expand further across the
U.S., Canada, South America, Europe, Africa, and other parts of the world.
For Media Inquiries:
GrubMarket Media Team
media@grubmarket.com
(415) 986-0523
GrubMarket
1925 Jerrold Ave.
San Francisco, CA. 94124
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SOURCE GrubMarket