GrubMarket, the organic and healthy food delivery service, announced a $32M financing round yesterday. Led by GGV with previous investors Fusion Fund and Great Oaks Venture Capital, the round is a mixture of equity and debt.
It's been a good three years for GrubMarket since closing a successful Wefunder campaign in June 2015. Though the company hasn't publicly disclosed a valuation, it has raised around $64M to date and is expanding rapidly.
This is the first step in what could be an exciting 18 months. In October, GrubMarket plans on expanding its services to the East Coast, setting things up for an IPO in the second half of 2019.
Wefunder supports three different federal laws that allow startups to raise money legally. To comply with the law, Wefunder Advisors LLC and Wefunder Portal LLC (both owned by Wefunder Inc) also list startups depending on the regulation used.
Legal May 16th 2016
Wefunder Portal LLC
for 263 startups
Wefunder Advisors LLC
for 100 startups
for 2 startups
Curious how well the companies have done? Or how many raised follow-on financing?
Some fine print: 1) These numbers include startups currently live on Wefunder if they pass their minimum target. 2) Some startups use two different laws at the same time (i.e., Regulation D and Regulation Crowdfunding).
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