Revenues for eCommerce provider increased nearly 500 percent in 2017…
Madison, WI – April 10, 2018 – GrocerKey, a full-stack eCommerce platform specifically built for the needs of grocery retailers, has secured a new $2.5M round of financing with participation from Woodman’s Markets, dunnhumby Ventures, and other prominent Midwest angel investors. Woodman’s Markets led the round. The total invested in GrocerKey since 2015 is now $4.2M.
“We provide grocery retailers with the technology and operations expertise needed to succeed against growing competition both online and in-store,” said Jeremy Neren, GrocerKey founder and CEO. “Receiving the support of prominent industry players like Woodman’s and dunnhumby validates our strategy of delivering profitable digital solutions to grocery retailers. Last year our revenue climbed nearly 500 percent. We are on track for similar growth in 2018 and believe this investment will provide GrocerKey with the additional firepower needed to meet that demand.”
Over the last two and a half years, Woodman’s has rolled out GrocerKey’s eCommerce platform to all sixteen of its regional stores. As a result, Woodman’s has fulfilled over 100,000 “click & collect” and delivery orders.
The successful implementation of eCommerce at Woodman’s has led to GrocerKey signing several regional and independent grocery chains throughout the US, including Southeastern Grocers, Piggly Wiggly Midwest, and Kowalski’s Markets.
“GrocerKey has built an impressive track record of growing profitable operations on behalf of its retail clients by providing the tools and technology needed to succeed in grocery eCommerce,” said Kyle Fugere, head of dunnhumby Ventures. “dunnhumby is excited to align with a cutting-edge and innovative omnicommerce solution and to help power the GrocerKey solution with our customer data science platform.” dunnhumby Ventures funds and accelerates startup businesses that are embracing data for innovations along the consumer’s path to purchase.
About GrocerKey Inc.
Founded in 2014 and based in Madison, Wisconsin, GrocerKey is a fast-growing technology company that helps brick & mortar retailers adapt to the new digital and mobile world. GrocerKey combines robust omnicommerce technology, deep eCommerce grocery operational experience, and proven strategies to help brick and mortar retailers become digital leaders. The GrocerKey omnicommerce platform is designed to integrate with a retailer’s existing merchandising, loyalty, and point-of-sale technologies. The platform includes a mobile optimized eCommerce interface, store-based picking, delivery management, and native mobile apps with mobile self-checkout capability. For more information, please visit http://www.grocerkey.com.
About Woodman’s Markets
Woodman’s Markets is an employee-owned U.S. regional supermarket chain based in Janesville, Wisconsin. Founded in 1919 as a produce stand, Woodman’s has grown to operate sixteen stores in Wisconsin and northern Illinois. The regional supermarket chain has more than 2,200 employees. Woodman’s has appeared on Supermarket News Top 50 Small Chains & Independents list since 2010. All Woodman’s locations are open 24 hours a day, and have a gas station and convenience store within close proximity to the store.
dunnhumby is the leading customer data science company. It analyzes data and applies insights from nearly one billion shoppers across the globe to create personalized customer experiences in digital, mobile, and retail environments. Its strategic process, proprietary insights, and multichannel media capabilities build loyalty with customers to drive competitive advantage and sustained growth for clients. dunnhumby employs more than 2,000 experts in offices throughout Europe, Asia, Africa, and the Americas and works with a prestigious group of companies including Tesco, Monoprix, Raley’s, Meijer, Michael Kors, Coca-Cola, Procter & Gamble, and PepsiCo. Learn more at http://www.dunnhumby.com.