New York, NY – May 13, 2024 – Pepper, the most trusted technology partner in the food distribution space, is pleased to announce the successful completion of a $30 million Series B funding round. This major investment was led by ICONIQ Growth, with continued participation from existing partners Index Ventures, Greylock, Imaginary and Harmony Partners. In conjunction with this funding, Richa Mehta, principal at ICONIQ Growth, will join Pepper's board of directors. This funding round marks a pivotal moment for Pepper, solidifying its position as the most trusted and transparent technology partner for independent foodservice distributors.
Since our last funding round, Pepper has experienced impressive growth, doubling its customer base and rolling out over 100 new product features. These capabilities greatly enhance the capabilities of sales reps, accounts receivable teams, and marketing teams, further enriching Pepper's top-of-the-line e-commerce solutions.
“The tremendous support from ICONIQ Growth and our existing investors not only validates our vision, but also strengthens our position as the most trusted and transparent technology partner in the food distribution industry.” said Bowie Cheung, CEO and co-founder of Pepper. “This funding will enable us to accelerate our roadmap and focus on innovative solutions that meet the evolving needs of our customers and enhance our operations.”
The newly secured funding will be used to drive product innovation in several key areas, including core e-commerce experiences, CRM tools, generative AI, rich product content, and analytics to support Pepper's growing ad network. .
ICONIQ Growth is known for strategic investments in companies driving significant digital transformation. Richa Mehta, principal at ICONIQ Growth, said, “Pepper's approach to working closely with industry stakeholders and the company's clear focus on empowering, not displacing, is completely consistent with our philosophy.”
As Pepper continues to expand its products and customer base, this new capital will further advance the company's vision to become the food distribution industry's most trusted technology platform, promoting a more resilient and sustainable food ecosystem. make it possible.
About Pepper
Pepper is an e-commerce platform designed to be a growth engine for independent distributors. The platform provides a best-in-class shopping experience for food service, convenience stores, and other markets. Pepper provides a suite of AI-powered tools to help distributor sales reps and customers grow market share.
