Pepper Secures $30 Million in Series B Funding to Empower Independent Foodservice Distributors
13 Mayo 2024 - 8:30AM
Business Wire
Pepper, the most trusted technology partner for the food
distribution sector, is thrilled to announce the successful closure
of a $30 million Series B funding round. This significant
investment was led by ICONIQ Growth, with continued participation
from existing partners at Index Ventures, Greylock, Imaginary, and
Harmony Partners. In conjunction with the funding, Richa Mehta,
Principal at ICONIQ Growth, will be joining Pepper’s board of
directors. This round of funding marks a pivotal moment for Pepper
as it solidifies its position as the most trusted and transparent
technology partner to independent foodservice distributors.
Since its last funding round, Pepper has demonstrated remarkable
growth, doubling its customer base and rolling out over one hundred
new product features. These features have significantly enhanced
the capabilities of sales representatives, accounts receivable
teams, and marketing teams, further enriching Pepper’s top-tier
eCommerce solutions.
“The tremendous support from ICONIQ Growth and our existing
investors not only validates our vision but also reinforces our
position as the most trusted and transparent technology partner in
the foodservice distribution industry,” said Bowie Cheung, CEO and
cofounder of Pepper. “This funding will enable us to accelerate our
roadmap, focusing on innovative solutions that meet the evolving
needs of our customers and strengthen their operations.”
The newly secured funds will be directed towards advancing
product innovation in several key areas, such as the core eCommerce
experience, CRM tools, generative AI, rich product content, and
analytics to support Pepper’s growing ads network.
ICONIQ Growth is renowned for its strategic investments in
companies that drive significant digital transformation. “Pepper’s
approach to partnering deeply with industry stakeholders, and the
company’s clear focus on empowering rather than displacing, aligns
perfectly with our philosophy," stated Richa Mehta, Principal at
ICONIQ Growth.
As Pepper continues to expand its offerings and customer base,
this new capital will empower the company to further its vision of
being the most trusted technology platform in the food distribution
industry, fostering a more resilient and sustainable food
ecosystem.
About Pepper Pepper is an eCommerce platform designed to
be the growth engine for independent distributors. The platform
delivers a best-in-class shopping experience for food service,
convenience stores, and other marketplaces. Pepper offers a suite
of AI powered tools for the distributor sales rep and customers to
grow market share.
About ICONIQ Growth ICONIQ Growth partners with
visionaries defining the future of their industries to transform
the world. Our investment platform and unique ecosystem helps
amplify our portfolio companies’ success from early growth stage to
IPO and beyond. Our portfolio includes Adyen, AirBnB, Alibaba,
Alteryx, Automattic, BambooHR, Braze, Chime, Collibra, Coupa,
Datadog, Docusign, Gitlab, Marqeta, Miro, Procore, Red Ventures,
Relativity, ServiceTitan, Snowflake, Sprinklr, Truckstop, Uber,
Wolt, and Zoom, among others. For more information, please visit
ICONIQGrowth.com.
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Jason Gunn Head of Marketing jason@usepepper.com
www.usepepper.com