BOSTON, Dec. 9, 2020 /PRNewswire/ -- Mable (https://meetmable.com), a digital platform that offers a wholesale ordering platform to independent grocers, emerging brands, and regional distributors, announces an $8.5 million Series A funding round. Venrock led the round, along with existing investors Accomplice and Founder Collective, and new investor Underscore. Mable will use the funding to grow its team, advance its product capabilities, and continue building a trusted network of distribution partners nationwide.
Focusing on the $641 billion grocery market, Mable connects brands, regional distributors, and retailers to enable more efficient inventory procurement. It gives brands a new distribution channel, offers retailers an easy way to discover new products and restock their shelves, and allows distributors to offer their customers advanced e-commerce.
Mable's founder and CEO Arik Keller (ex-PayPal) explains, "We're the only platform connecting all three constituents in the grocery space. Three years ago, I purchased a small grocery store and was shocked at how inefficient it was to discover new brands and keep the shelves stocked. So, in early 2020, I launched Mable to make it easier for stores, brands, and regional distributors to work together. Our goal is to level the playing field with a solution that will completely change the way inventory gets from a supplier to a shelf."
Previously, start-up food brands struggled to grow their wholesale business without an injection of capital or being brokered by a major distributor. Since launching, Mable has been removing barriers that kept these brands from getting into grocery stores. Mable now has more than 600 brands and 6,000 products on the site and an 80% success rate of connecting brands to new retail accounts.
Grocers have been delighted. Brian Krafjack, owner of The Island Market & Supply on Swan's Island, Maine, says, "Mable allowed us to broaden our offering. We've brought in Smoking Goose meats from Indiana and Eddie's Bakery hand-cut donuts from Vermont. We didn't have access to those sorts of artisanal, specialty items before, and we've been re-ordering every week."
Ryan Owens, Sales and Marketing Director at Associated Buyers, a leading distributor of natural, organic, and local products, says, "Mable allowed us to roll out modern ordering technology in just a few days, enabling hundreds of our stores to save time ordering as well as discover more products we offer. Our sales team now spends time introducing new products to customers instead of taking orders."
Headquartered in Boston, Massachusetts, Mable is a venture-backed company founded by a grocery store owner and a team of retail and commerce experts from PayPal, Wayfair, and ezCater. Mable's mission is to level the playing field for grocers, brands, and distributors long under-served by technology.
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mable-raises-8-5mm-series-a-round.jpg Mable Raises $8.5MM Series A Round to Connect Grocery Stores, Emerging Brands, and Regional Distributors Mable provides wholesale ordering technology for the $641B grocery space