- Online ordering and delivery platform for independent grocery stores Mercato announced recently that it closed funding led by Greycroft
Mercato, an online ordering and delivery platform for independent grocery stores, announced it recently closed a funding round led by Greycroft. Previous investor Loeb Enterprises (managed by Michael Loeb — who was instrumental in the development and funding of Priceline) also joined this round.
This round of funding will enable Mercato to execute on its strategy to expand into new markets from coast to coast and continue development of technology and services that enable independent grocers to compete online.
Grocery e-commerce and delivery are becoming more in demand by consumers and Mercato is working to ensure that independents can compete in this growing segment. And in the U.S., the percentage of consumers who purchased groceries online this last year surged increased from 23.1% to 36.8%, according to Coresight Research.
“My family is in the grocery business and I grew up working in our family store. This experience highlighted to me the real disadvantage independents have when it comes to technology, innovation, and marketing. We want to level the playing field and allow these great local businesses to win against their competition, whoever it is,” said Mercato founder and CEO Bobby Brannigan. “Mercato is the only platform that allows consumers to discover the best local grocers and specialty food retailers in their area. Besides all of the traditional pantry staples and packaged foods, customers get access to the freshest produce, fish, meat, ethnic and prepared foods, and can have them delivered to their home or business in about an hour.”
What makes Mercato different from other online grocery companies is that the platform was built specifically to meet the unique e-commerce needs of independent grocery stores and specialty food retailers.
“Mercato has been successful based on two important factors: its technology and its unique ability to serve the needs of independent grocers,” added Greycroft co-founder Ian Sigalow. “We believe in the company’s disciplined vision, strong management, and vast market potential and look forward to working with them as the team continues to expand into new markets across the country.”
And Mercato enables merchants to throttle orders, define delivery lead times, communicate directly with their customers, and easily add items and change prices in real-time. Plus Mercato also allows merchants to access product and pricing analytics to determine trends and manage inventory. In terms of deliveries, Mercato handles the service through its nationwide courier network and can often deliver up to 15 miles or more.
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