GrubMarket has acquired Butter, a four-year-old AI company, to enhance its ecommerce and payment solutions. Butter's AI tools will integrate with GrubMarket's existing products, aiming to improve services for food distributors. Butter has raised $39M and has 11,000 buyers.
GrubMarket has acquired Butter, a San Francisco-based AI company, for an undisclosed amount. This acquisition is part of GrubMarket's strategy to incorporate advanced AI technologies into its platform. Founded 10 years ago, GrubMarket has made 100 acquisitions to date, highlighting its aggressive growth strategy. The integration of Butter's AI-powered tools will help small restaurants and neighborhood grocers by facilitating faster ecommerce and digital payment processing.
Butter, established four years ago, specializes in AI-powered sales tools, cloud-based enterprise resource planning (ERP), and integrated online payment solutions. With over $39 million in funding and a business base of more than 11,000 buyers, Butter processes hundreds of thousands of orders annually. Butter's cofounder Winston Chi expressed enthusiasm about the merger, saying, "We are keen to join forces with GrubMarket, who shares our passion for being an AI-powered technology enabler."
The acquisition will merge Butter’s capabilities with GrubMarket’s existing products like WholesaleWare and GrubAssist AI. WholesaleWare provides tools for fiscal management, sales support, inventory management, and more. GrubAssist AI offers analytics and analysis tools for food supply chain businesses. Mike Xu, GrubMarket's CEO, stated, "We are impressed with Butter's ability to leverage advanced AI to build unique software applications that complement our products."
GrubMarket connects farmers with consumers for home delivery and sells food to grocery retailers and restaurants, including Walmart, Costco, and Whole Foods. Operating in all 50 U.S. states and parts of Canada, South America, Asia, and Africa, GrubMarket continues to expand its global footprint. This acquisition is expected to further enhance its services and strengthen its position in the food distribution industry.
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