Madison-based GrocerKey, an eCommerce company providing white-label technology to grocery retailers, has closed on a $2.4 million equity round totaling 18 private investors.
GrocerKey‘s technology allows grocers to customize online offerings, enable home delivery and offer mobile self-checkout. The company works with independent and regional grocery partners, including Kowalski’s Markets, Piggly Wiggly Midwest and Woodman’s Markets. It will use the money to enhance its platform and add strategic support for its growing client base.
“As we continue to live life in a global pandemic, grocery retailers are looking for ways to retain customers and compete in an industry disrupted by rapidly changing shopping habits,” explained GrocerKey CEO Jeremy Neren. “GrocerKey is uniquely positioned to help brick and mortar grocery retailers not only build and scale eCommerce profitably, but also to pivot in an
uncertain landscape to meet shifting demands.”
In 2020, the pandemic-influenced rapid adoption of online grocery shopping propelled GrocerKey’s success. The company experienced an 85 percent increase in sales for its second quarter when compared to the same period in 2019.