A Madison company that is helping grocery stores grow their online and delivery services has racked up another round of funding.
GrocerKey, founded in 2014, has announced that it has secured $2.5 million in financing from Janesville-based Woodman’s Markets; dunnhumby Ventures, a customer data company; and other Midwestern-based angel investors.
The latest cash infusion, led by Woodman’s, brings the total amount of investments into GrocerKey since 2015 to $4.2 million.
"Receiving the support of prominent industry players like Woodman’s and dunnhumby validates our strategy of delivering profitable digital solutions to grocery retailers," said Jeremy Neren, GrocerKey's founder and CEO.
Revenue for GrocerKey climbed nearly 500 percent in 2017, and the company is on track for similar growth in 2018, Neren said.
Woodman’s has rolled out GrocerKey’s eCommerce platform to all 16 of its stores, while GrocerKey has also implemented its programs with Southeastern Grocers in Florida, Piggly Wiggly Midwest, and Kowalski's Markets in Minnesota.