🛒 Innovative Tech Solutions
Pepper has developed an ordering system for independent food distributors, supporting catalogs of over 100,000 items. The platform helps these distributors launch mobile apps and websites to accept orders and payments online. CEO Bowie Cheung, formerly of Uber Eats, emphasizes the importance of independent distributors in maintaining diversity and vibrancy in the food industry.
📈 Proven Success
Pepper's platform has driven significant success for its clients. Customers report a 23% increase in sales, 93% buyer retention, and savings of over 10 hours of work per week per sales representative. The company continuously adds new features, utilizing advanced tech like generative AI, to enhance efficiency and results.
🤝 Strong Competition
In the competitive e-commerce food distribution space, Pepper stands out by focusing on a distributor-facing strategy rather than a marketplace-first approach. This strategy highlights the distributor’s brand rather than Pepper’s, setting it apart from competitors like Choco, Cut+Dry, and Anchovi.
💰 New Funding Round
Pepper recently raised $30M in a Series B funding round led by ICONIQ Growth, with additional investments from Harmony Partners and existing investors Index Ventures, Greylock, and Imaginary. This brings Pepper's total funding to $60M. Although specific revenue and valuation details weren't disclosed, CEO Cheung noted significant growth and a favorable valuation increase since the last funding round.
How will Pepper's new funding impact the food distribution industry?
