Pepper, offering an e-commerce solution for food distributors, announces the 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 join Pepper's board of directors.
Since its last funding round, Pepper has demonstrated growth in doubling its customer base and rolling out over 100 new product features. Many of Pepper's independent distributor partners service the produce industry to empower both sales teams and customers by simplifying and atomizing tasks to free up time to focus on other areas of their business.
"The support from ICONIQ Growth and our existing investors validates our vision," said Bowie Cheung, CEO and co-founder 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 new funding will go towards advancing production innovation in several key areas.
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.
"Pepper's approach to partnering deeply with industry stakeholders, and the company's focus on empowering rather than displacing, aligns perfectly with our philosophy," said Mehta.
As the company continues to expand its offerings and customer base, this new capital will empower the company to further its vision of being a trusted technology platform in the food distribution industry, fostering a more resilient and sustainable food ecosystem.
For further information:
Jason Gunn
Pepper
[email protected]
https://www.usepepper.com/