Imperfect Foods has raised $95 million in a series D growth investment round led by Insight Partners. These funds will help the company double capacity and product assortment, as well as accelerate its private label program, improve the shopping experience, and support farmers and partners.
“This planned funding underscores the solid infrastructure, supply and customer experience upon which we’ve built this company,” said Imperfect Foods CEO Philip Behn, in a statement. “2020 proved there is a real and growing demand for the marriage of sustainability and convenience in retail food. As the leading direct-to-consumer online grocer with a coast-to-coast footprint and our own last-mile delivery fleet, we plan to continue improving the customer experience by doubling down on technology and building the ‘perfect imperfect assortment’ for our customers.”
“Imperfect is delivering a ‘mission with a margin’,” said Adam Berger, Insight Partners’ managing director and Imperfect Foods’ lead director, in a statement. “Insight has backed the global leaders in delivered meal kits, ready-to-eat meals, restaurant delivery and even pet meals, and Imperfect Foods is proving they are the leader in sustainable grocery delivery. Their unit economics are exceptional, driven by their unique ‘farm to fork logistics’ that curates customized produce and groceries, with scheduled weekly deliveries to the customer’s doorstep. Imperfect Foods’ supply chain is unmatched and quickly gets fresh groceries from producers to consumers with minimum intermediaries and waste, completing the last mile in their own vans.”
Related: Cashierless Checkout Platform Raises $60 Million; Gotham Greens, Fody Food Co. Raise Funds for Expansion.
Image: Imperfect Foods