Green Rabbit Raises $31 Million To Set the Standard for Grocery and Perishable Food Fulfillment
Minority Investment from Guidepost Growth Equity to Scale the Company’s Cold Chain Processes and Automate Perishable and Grocery Fulfillment and Delivery Nation-Wide
BRAINTREE, Mass., October 29, 2019-- Green Rabbit, the leading e-commerce cold chain logistics provider to the food industry, announced today that it has secured a $31 million minority investment from Guidepost Growth Equity, a leading growth equity firm focused on high-growth technology companies. This investment represents the first institutional capital into Green Rabbit and positions the Company to continue its rapid growth in the $20 billion e-commerce food and grocery delivery market by adding additional talent to its workforce and further developing its supply chain automation capabilities.
With a mission to deliver temperature-sensitive and perishable foods in a safe, fast, cost-effective manner, Green Rabbit is a trusted partner to some of the leading and largest retailers, grocers, and CPG brands. The Company’s proprietary supply chain technology automates the entire distribution, fulfillment and delivery process – providing businesses with real-time visibility into each order, ensuring that perishables are delivered fresh, on-time and economically. Six of the ten largest retailers in the U.S. and four of the ten largest global food and beverage manufacturers rely on Green Rabbit to maximize the value of their digital food delivery initiatives.
“Green Rabbit is hyper-focused on becoming the industry leader in perishable fulfillment and powering the future of online grocery,” said Greg Balestrieri, co-founder and Chief Executive Officer of Green Rabbit. “With this investment, we’ll be able to accelerate growth and scale the development of our proprietary platform to ensure that the fulfillment processes protect perishables and help our customers grow their e-commerce food service initiatives.”
Purpose-built to serve the e-commerce industry, Green Rabbit was initially founded as Candy.com and managed primarily temperature-sensitive, confectionery products. The Company has since dramatically expanded its services and capabilities to ship millions of orders per year for more than 5,000 perishable items across 150 brands. By leveraging its own proprietary algorithms, Green Rabbit ensures that all orders are managed and packaged appropriately, resulting in 99.9% delivery success rate. Green Rabbit has also earned SQF Level 3 Certification, considered the highest food safety compliance measure in the industry.
“We are excited to partner with Green Rabbit and this investment exemplifies Guidepost’s long history of working with bootstrapped, fast-growing, and highly differentiated businesses led by an outstanding team. We look forward to supporting the Company as it pursues a number of exciting growth initiatives,” said Doug Kingsley, Managing Partner of Guidepost Growth Equity.
“As online grocery and perishable food sales represent one of the fastest-growing segments in e-commerce, major retailers and CPGs are looking to maximize their digital growth strategies,” said Won Park, Principal of Guidepost Growth Equity. “We’re excited to partner with Green Rabbit to help them become the cold chain logistics standard that powers the future of digital food service initiatives.”
As part of the investment, Doug Kingsley and Won Park from Guidepost will join the Green Rabbit Board of Directors.
Green Rabbit’s services are available immediately. To learn more and get started, please go to https://www.greenrabbit.com/services.html.
About Green Rabbit
Green Rabbit is the trusted cold chain logistics provider for fast, safe, sustainable fulfillment and delivery of perishable goods and grocery. The Company’s proprietary technology automates and manages the entire supply chain process, enforcing SQF Level 3 certification and industry best practices to ensure that heat-sensitive items are delivered fresh, cost-effectively, and in an environmentally conscious manner. The world’s leading food retailers and CPGs rely on Green Rabbit to maximize their e-commerce and omnichannel food service initiatives. For more information, visit us at https://www.greenrabbit.com.
About Guidepost Growth Equity
Guidepost Growth Equity is a leading growth equity firm that partners with technology companies offering innovative solutions in large, dynamic markets including software and tech-enabled services, communications and infrastructure, and data and information services. Current and prior investments include OutSystems, WP Engine, Dyn (acquired by Oracle), Jive Communications (acquired by LogMeIn), and ProtoLabs (IPO on NYSE). Guidepost Growth Equity provides the flexible capital, operational support, and strategic guidance necessary to support the continued success of growth-stage businesses and has over $1 billion of capital under management. For more information, visit guidepostgrowth.com.
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