Misfits Market Valuation, Funding & Investors

Misfits Market is valued at $2B as of September 2021.

Last Misfits Market valuation

$2B

Series C · Sep 2021

Last Misfits Market funding round

$225M

Series C · Sep 2021

Cumulative funding Misfits Market raised

$527M

across 4 funding rounds

Key investors in Misfits Market

  • Greenoaks
  • Accel
  • Valor Equity Partners
  • Sound Ventures
  • Third Kind Venture Capital
  • SoftBank Group

Misfits Market Overview

About Misfits Market

Misfits Market is a Pennsauken-headquartered grocery delivery service rescuing surplus and cosmetically imperfect produce from farms. Launched in 2020, the company ships subscription boxes of organic fruits, vegetables, and pantry staples weekly to customers in 45 U.S. states at discounts up to 40 percent below retail. Misfits Market diverts over 100 million pounds of food annually through direct partnerships with 700 growers, reducing waste in the $40 billion ugly produce sector.


Founded

2018

HQ

United StatesPortland, OR

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

Valuation

$2B (Sep 2021)

Misfits Market Valuation

Misfits Market is currently valued at $2B, based on its Series C in September 2021.

The $225M round was led by SoftBank Group, with participation from Wormhole Capital and Accel.

Misfits Market's valuation has grown 32x from $62M at its Series A in June 2019 to $2B in September 2021, across 3 priced rounds.

Misfits Market valuation by funding round

Misfits Market valuation by funding round
DateStageValuation
Sep 2021Series C$2B
Apr 2021Series C$1.1B
Jun 2019Series A$62M

Misfits Market Funding History

Misfits Market has raised a total of $527M across 4 funding rounds.

Misfits Market's first fundraising round was a $17M Series A in June 2019. The most recent completed round was a $225M Series C in September 2021.

Misfits Market funding rounds

Misfits Market funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2021Series CSoftBank Group (lead); Wormhole Capital; Accel$225M$2BMisfits Market is a US-based e-commerce platform specializing in the direct-to-consumer delivery of imperfect or surplus produce and other grocery items that would otherwise be wasted or discarded. The company operates across 43 US states and has shipped groceries to more than 26,000 zip codes since its 2018 founding, positioning itself as a sustainability-focused alternative to traditional grocery retail by offering quality food at discounted prices. In April 2021, Misfits Market achieved unicorn status when Accel and D1 Capital co-led a $200 million Series C round that valued the company at $1.1 billion. By September 2021, the company had closed its Series C-1 funding round, raising $225 million led by SoftBank Vision Fund 2 with participation from returning investor Accel, which doubled its valuation to $2 billion and brought total equity raised to $526.5 million. The fresh capital was earmarked for nationwide expansion and increasing product selection, with the company doubling its grocery item offerings in the four months prior to the September announcement. CEO and founder Abhi Ramesh highlighted that Misfits had redirected more food in the first four months of 2021 than in all of 2020, demonstrating significant momentum in the sustainability-focused e-commerce grocery space.
Apr 2021Series CAccel (lead); D1 Capital Partners (lead); Greenoaks; Sound Ventures; Third Kind Venture Capital; Edward Lando; Pareto Holdings; Valor Equity Partners; Quiet Capital$200M$1.1BMisfits Market is a direct-to-consumer online grocery service based in Delanco, New Jersey, that delivers quality, sustainably sourced food, including imperfect or surplus produce, proteins, and pantry items, at discounts up to 40% compared to premium grocers, with a mission to reduce food waste and eliminate food deserts in America by 2025. The company raised $200 million in an oversubscribed Series C funding round on April 21, 2021, co-led by Accel and D1 Capital Partners, with participation from Valor Equity Partners, Greenoaks Capital, Sound Ventures, Third Kind Ventures, and others including Edward Lando, Pareto Holdings, and Quiet Capital. This brought total funding to $301.5 million and pushed the company's post-money valuation to over $1 billion, with Bloomberg specifically reporting $1.1 billion, achieving unicorn status. The funding supports expansion into every major grocery category, West Coast distribution, and nationwide reach to underserved areas, following a new headquarters and distribution center in New Jersey that doubled East Coast delivery capacity since the prior $85 million Series B in July 2020. During the pandemic, Misfits Market tripled farmer and supplier relationships, achieved fivefold growth in active customers and order volume in 2020, shipping over 77 million pounds of food to more than 400,000 customers, and rescued equivalent food volume in the first four months of 2021 as in all of 2020. Accel's Ryan Sweeney joined the board post-round. Misfits Market competes with sustainability-focused grocers and traditional supermarkets emphasizing food waste reduction, capitalizing on pandemic-driven shifts in food supply chains and consumer sourcing habits.
Jul 2020Series BValor Equity Partners (lead); Jon Oringer; Greenoaks; Sound Ventures; Third Kind Venture Capital; Ashton Kutcher; Alarko Ventures$85M-Misfits Market, founded in 2018 by Abhi Ramesh, is an online grocery service focused on rescuing and selling imperfect or surplus produce at discounts up to 40% compared to premium grocers, while expanding into full grocery categories, in-house brands like Odds and Ends, and fulfillment services. The company raised $85 million in its Series B round in July 2020, led by Valor Equity Partners with participation from investors including Greenoaks, aiming to support growth amid heightened COVID-19 demand. During the pandemic, Misfits Market experienced rapid expansion, tripling farmer and supplier relationships, achieving 5x growth in active customers and order volume in 2020, and shipping over 77 million pounds of food to more than 400,000 customers across numerous U.S. states by early 2021. The 2020 round aligned with this surge, enabling nationwide distribution to underserved areas and efforts to eliminate food deserts by 2025. By 2022, Misfits acquired Imperfect Foods in an all-stock deal to accelerate toward $1 billion in sales and profitability, highlighting industry consolidation trends seen in 2020-2021. Later traction included reaching 38,000+ zip codes in 44 states and rescuing over 228 million pounds of food by 2021, with total funding reaching $526.5 million by 2023. In 2025, annual revenue hit $500 million, including $50 million from ugly produce, $50 million from Odds and Ends, and strong growth in fulfillment with over 40% gross margins, outperforming traditional grocers. Forbes estimated a potential $1-2 billion valuation based on 2026 market conditions, reflecting ongoing scaling with a fleet of 350 trucks and specialized offerings.
Jun 2019Series AGreenoaks (lead); Esas Ventures; Blue Collective; Cem Garih$17M$62MMisfits Market closed a Series A funding round in June 2019 led by Greenoaks Capital, raising $16.5 million. The company was valued at approximately $62 million post-money at the time of this round. Founded in 2018 by Abhi Ramesh and Edward Lando, Misfits Market operates a direct-to-consumer subscription service delivering discounted organic produce and pantry staples directly from farms to consumers' homes, addressing food waste in the supply chain. The produce offered by Misfits would typically be discarded by farms for cosmetic imperfections, yet remains fresh and nutritious. At the time of the Series A round, Misfits Market operated across zip codes in the Northeast including Pennsylvania, New York, New Jersey, Connecticut, Delaware, Massachusetts, Vermont, New Hampshire, Rhode Island, Maine, and Ohio, with expansion plans into Mid-Atlantic and Southeast states. The company later achieved unicorn status following a $200 million Series C round in April 2021 at a $1.1 billion valuation, driven by significant growth during the pandemic when active customers surged 5x year-over-year.

Who has invested in Misfits Market?

17 investors have backed Misfits Market across its funding rounds, including Greenoaks, Accel, Valor Equity Partners, Sound Ventures, Third Kind Venture Capital and SoftBank Group.

Lead investors include SoftBank Group, Accel, D1 Capital Partners, Valor Equity Partners and Greenoaks.


Misfits Market Investors

Investors in Misfits Market by funding rounds participated
InvestorHQRoundsRoleFirst check
GreenoaksUnited StatesSan Francisco, CA3LeadJun 2019
Sound VenturesUnited StatesLos Angeles, CA2ParticipantJul 2020
Third Kind Venture CapitalUnited StatesNew York City, NY2ParticipantJul 2020
Valor Equity PartnersUnited StatesChicago, IL2LeadJul 2020
AccelUnited StatesPalo Alto, CA2LeadApr 2021
Jon OringerUnited StatesMiami, FL1ParticipantJul 2020
Edward LandoUnited StatesMiami, FL1ParticipantApr 2021
Esas VenturesTurkeyIstanbul1ParticipantJun 2019
Ashton KutcherUnited StatesLos Angeles, CA1ParticipantJul 2020
SoftBank GroupJapanTokyo1LeadSep 2021
Pareto HoldingsUnited StatesNew York City, NY1ParticipantApr 2021
Wormhole CapitalUnited StatesNew York City, NY1ParticipantSep 2021
Alarko VenturesTurkeyIstanbul1ParticipantJul 2020

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Acquisitions by Misfits Market

Misfits Market has acquired 2 companies to date.

Last acquisition by Misfits Market was on May 30th 2025. Misfits Market acquired The Rounds for undisclosed valuation.


Latest Acquisitions by Misfits Market

The Rounds
Imperfect Foods
Description
The Rounds is a Toronto-based delivery service that eliminates packaging waste by refilling reusable containers with products like shampoo, lotion, and household cleaners. Customers order through the app, and drivers pick up empty containers from homes for professional cleaning and sanitization before refilling at partner facilities. Launched in 2020, the company partners with brands such as Method and Attitude to offer over 100 sustainable personal care and home items. Operating in multiple Canadian cities including Ottawa and Vancouver, The Rounds expands zero-waste access through corporate gifting programs and B2B subscriptions.
Imperfect Foods is a grocery delivery service rescuing surplus and cosmetically imperfect produce, dairy, meat, seafood, and shelf-stable items from farms and suppliers. San Francisco-based, it minimizes food waste by redistributing products directly to consumers nationwide through subscription boxes.
HQ CountryUnited StatesUnited States
HQ City
Washington, DC
San Francisco, CA
Deal Date30 May 20257 Sep 2022
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Misfits Market Competitors

Misfits Market competitors include listed companies like ACV Auctions and Modivo, and private ones like Licious, Yijiupi, Farfetch China and Saks.com.

Public and private companies comparable to Misfits Market
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
LiciousIndiaBangalorePrivate$45M-$2B-
YijiupiChinaWuhuPrivate--$1.1B-
Farfetch ChinaChinaShanghaiPrivate--$2B-
Saks.comUnited StatesNew York City, NYPrivate--$2B-
ACV AuctionsUnited StatesUnited StatesPublicly listed$760M($19M)$1.8B2.1x
ModivoPolandPolandPublicly listed$2.9B$224M$1.8B0.9x

Misfits Market Public Comps

Misfits Market is still privately-owned, but its public comps include CJ CheilJedang, Cisarua Mountain Dairy, Polibeli Group, Universal Robina, Midera Food Processing, Savola Group, Ezaki Glico Co, Monde Nissin, momo.com and ITO EN.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CJ CheilJedang$20B$1.6B0.7x0.6x8.5x6.6x
Cisarua Mountain Dairy$605M$146M3.2x2.8x13.2x12.3x
Polibeli Group$26M($4M)76.5x-(495.5x)-
Universal Robina$2.7B$328M0.8x0.8x6.7x5.9x
Midera Food Processing$853M$89M2.6x2.5x25.3x14.0x
Savola Group$7B$671M0.5x0.5x5.4x5.7x
Ezaki Glico Co$2.3B$174M0.7x0.7x9.3x8.2x
Monde Nissin$1.4B$230M1.3x1.2x7.7x7.3x

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Common questions about Misfits Market

When was Misfits Market founded?Misfits Market was founded in 2018.
Where is Misfits Market headquartered?Misfits Market is headquartered in Portland, OR, United States.
Is Misfits Market publicly listed?No, Misfits Market is a private, VC-backed company.
What is Misfits Market's valuation?Misfits Market was last valued at $2B in its Series C in September 2021.
How much funding has Misfits Market raised?Misfits Market has raised $527M across 4 funding rounds.
What was Misfits Market's last funding round?Misfits Market's last funding round was a $225M Series C in September 2021, led by SoftBank Group.
Who are Misfits Market's investors?Misfits Market's investors include Greenoaks, Sound Ventures, Third Kind Venture Capital, Valor Equity Partners, Accel, Jon Oringer, Edward Lando, Esas Ventures, Ashton Kutcher, SoftBank Group and 7 others.
Which companies are comparable to Misfits Market?Companies comparable to Misfits Market include Licious, Yijiupi, Farfetch China, Saks.com, ACV Auctions and Modivo.
How many companies has Misfits Market acquired?Misfits Market has acquired 2 companies, including The Rounds and Imperfect Foods.

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