- Companies
- Pepper Ecommerce
Pepper Ecommerce Funding, Investors & Competitors
Pepper Ecommerce has raised $110M across 4 funding rounds, most recently a $50M Series C in February 2026.
Last Pepper Ecommerce funding round
$50M
Series C · Feb 2026
Cumulative funding Pepper Ecommerce raised
$110M
across 4 funding rounds
Key investors in Pepper Ecommerce
Greylock
Index Ventures
Imaginary Ventures
BoxGroup
ICONIQ Capital
Harmony Partners
Bossa Invest
Gaingels
About Pepper Ecommerce
Pepper Ecommerce is a platform designed for food distributors and convenience stores that deploys AI tools to enhance sales processes and customer relationships. Headquartered in the United States, it equips sales representatives with features for customer discovery, order management, and revenue analytics, while buyers access catalogs and pricing. The suite targets North American markets, streamlining operations for wholesalers handling perishables and packaged goods.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Pepper Ecommerce Funding History
Pepper Ecommerce has raised a total of $110M across 4 funding rounds.
Pepper Ecommerce's first fundraising round was a $4M seed round in September 2019. The most recent completed round was a $50M Series C in February 2026.
Pepper Ecommerce funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Feb 2026 | Series C | Lead Edge Capital (lead); ICONIQ Capital; Index Ventures; Interplay; Greylock; Harmony Partners | $50M | Pepper, operating as Pomegranate Technologies Inc., is an end-to-end technology platform for independent food distributors, providing tools for online ordering, sales workflows, automated processing, embedded payments, and AI-driven automation. The platform integrates with over 70 ERP systems, positioning it as an overlay to modernize customer-facing commerce and operations without full system replacements. Founded in 2014 and headquartered in New York, Pepper serves a sector where many distributors still rely on manual processes like phone and fax amid shifting customer demands for self-service. On February 20, 2026, Pepper raised $50 million in a Series C funding round led by Lead Edge Capital, with participation from existing investors ICONIQ Growth, Index Ventures, Greylock, Harmony Partners, and Interplay. The company did not disclose valuation details. Proceeds will expand products like Storefront, Sales Hub, Order Agent, Finance Hub, and Growth Agent, enhance AI capabilities, scale ERP integrations, and boost go-to-market efforts in the fragmented $1.3 trillion food distribution market. Prior to this, Pepper acquired Kimelo in summer 2025, a vertical software provider for foodservice, following a $30 million raise over a year earlier for AI and advertising enhancements. Lead Edge Capital, managing over $5 billion, targets category-defining platforms in high-potential markets, with past investments in companies like Toast and Asana. Pepper emphasizes its unique handling of ERP complexity at scale, supporting commerce, sales, finance, payments, and supplier marketing. |
| May 2024 | Series B | ICONIQ Capital (lead); Index Ventures; Greylock; Harmony Partners; Imaginary Ventures | $30M | Pepper is an AI-enabled technology platform serving independent food distributors in the United States. The company offers an integrated suite of products including online ordering (Storefront), sales representative tools (Sales Hub), automated order processing (Order Agent), embedded payments, advertising platforms, and customer relationship management software designed to digitize and streamline operations for distributors still relying on manual processes like phone and fax ordering. Founded in 2014 and headquartered in New York, Pepper positions itself as an overlay to existing enterprise resource planning systems rather than a replacement, integrating with more than 70 ERP platforms to enable modernization without large-scale system migrations. In May 2024, Pepper closed a $30 million Series B funding round led by growth equity firm ICONIQ Growth, with participation from new investor Harmony Partners and existing backers Index Ventures, Greylock, and Imaginary Ventures, bringing total funding to approximately $60 million. CEO Bowie Cheung stated that revenue had grown by more than 20 times at the time of the Series B announcement, though specific revenue figures were not disclosed. Key performance indicators highlighted by the company included customers experiencing a 23% increase in sales, 93% buyer retention rates, and sales representatives saving more than 10 hours of work per week through Pepper's platform. By February 2026, Pepper had raised an additional $50 million in Series C funding led by Lead Edge Capital, expanding its user base to more than 500 distributors representing $30 billion in annual gross merchandise volume and supporting over 100,000 active foodservice operators across the United States. |
| Nov 2021 | Series A | Index Ventures (lead); Brett Schulman; BoxGroup; Greylock; 9Yards Capital; Karman Ventures; Imaginary Ventures | $26M | Pepper is an eCommerce platform for food distributors that enables digital ordering and payments in the food supply chain. The platform functions as a Shopify-like storefront that food distributors can use to sell to restaurants and grocery stores, allowing restaurants to purchase food inventory digitally instead of via phone and email. In November 2021, Pepper raised $16 million in Series A funding led by Index Ventures, with participation from Greylock, Imaginary Ventures, BoxGroup, Moving Capital, and Brett Schulman. This brought total capital raised to $20 million at that time. The platform serves over 25,000 restaurants and grocery stores across the U.S. and Canada, and supports catalogs with over 100,000 items. According to published results, Pepper's clients have experienced 14% growth in sales and 77% reduction in order entry time after implementing the platform. The Series A funding was designated for accelerating product development in areas such as digital payments and product recommendation engines, with plans to double the team within 12 months. |
| Sep 2019 | Seed | Greylock (lead); BoxGroup; 10X Capital; Gaingels; Bossa Invest; Imaginary Ventures | $4M | Pepper is an AI-enabled end-to-end technology platform serving independent food distributors, offering solutions for online ordering, sales workflows, accounts receivable management, and embedded payments. Founded in 2014 and headquartered in New York, the company raised $4 million in its Seed round in September 2019 led by Greylock, marking the initial development and launch of its eCommerce platform. The company positions itself as an overlay to existing enterprise resource planning systems rather than a replacement, integrating with more than 70 ERP platforms to enable distributors to modernize customer-facing commerce without large-scale system migrations. By the time of its later Series B funding in May 2024, Pepper had grown to serve over 500 distributors representing approximately $30 billion in annual gross merchandise volume and supporting more than 100,000 active operators nationwide. |
Who has invested in Pepper Ecommerce?
14 investors have backed Pepper Ecommerce across its funding rounds, including Greylock, Index Ventures, Imaginary Ventures, BoxGroup, ICONIQ Capital and Harmony Partners.
Lead investors include Lead Edge Capital, ICONIQ Capital, Index Ventures and Greylock.
Pepper Ecommerce Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Sep 2019 | ||
| 3 | Lead | Nov 2021 | ||
| 3 | Participant | Sep 2019 | ||
| 2 | Lead | May 2024 | ||
| 2 | Participant | Sep 2019 | ||
| 2 | Participant | May 2024 | ||
| 1 | Participant | Nov 2021 | ||
| 1 | Lead | Feb 2026 | ||
| 1 | Participant | Feb 2026 | ||
| 1 | Participant | Sep 2019 | ||
| 1 | Participant | Sep 2019 | ||
| 1 | Participant | Nov 2021 | ||
This data is available for Pro users. Sign up to see all 14 Pepper Ecommerce investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Pepper Ecommerce
Pepper Ecommerce has acquired 2 companies to date.
Last acquisition by Pepper Ecommerce was on March 24th 2026. Pepper Ecommerce acquired Alima for undisclosed valuation.
Latest Acquisitions by Pepper Ecommerce
| Description | Alima is a Latin America-focused digital marketplace that connects fruit and vegetable suppliers with buyers such as retailers and wholesalers. The platform optimizes procurement by matching quality produce with competitive pricing through an online bidding system. Headquartered in Bogotá, Colombia, Alima serves markets across Colombia, Peru, and Ecuador. It streamlines logistics with real-time inventory tracking and automated delivery scheduling. Launched in 2019, the service reduces procurement time for businesses by integrating supplier catalogs and buyer demands into a single interface. | Kimelo is an AI platform providing ordering, inventory, and e-commerce tools for foodservice distributors. San Francisco-headquartered, it automates customer portals, pricing, and delivery tracking to streamline operations for wholesalers serving restaurants and hospitality venues. |
| HQ Country | ||
| HQ City | Mexico City | San Francisco, CA |
| Deal Date | 24 Mar 2026 | 25 Aug 2025 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Pepper Ecommerce acquisitions and their M&A valuation multiples. Start Free Trial | ||
Pepper Ecommerce Competitors
Pepper Ecommerce competitors include listed companies like Alibaba Group and Ocado Group, and private ones like GrubMarket, CADDi, Jumbotail and Bizongo.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $3.5B | - | ||
| Private | - | - | $1.1B | - | ||
| Private | $88M | - | $1B | 11.4x | ||
| Private | $18M | - | $980M | - | ||
| Publicly listed | $153B | $15B | $266B | 1.6x | ||
| Publicly listed | $1.9B | $135M | $2.4B | 1.8x |
Pepper Ecommerce Public Comps
Pepper Ecommerce is still privately-owned, but its public comps include Alibaba Group, Uber, Prosus, DoorDash, Carvana, Meituan, Zomato, Shein, DiDi and JD Health.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $153B | $15B | 1.7x | 1.6x | 17.5x | 13.0x | |||
| $52B | $6.2B | 3.0x | 2.8x | 24.9x | 14.6x | |||
| $9.7B | $1.1B | 9.1x | 8.0x | 83.8x | 123.7x | |||
| $14B | $1.5B | 6.0x | 4.9x | 55.8x | 23.7x | |||
| $20B | ($110M) | 3.7x | 2.9x | (691.4x) | 27.7x | |||
| $54B | ($2.2B) | 0.9x | 0.8x | (21.4x) | 162.4x | |||
| $5.7B | $198M | 5.4x | 3.9x | 155.1x | 127.5x | |||
| $42B | $2.3B | 0.2x | - | 3.5x | - | |||
This data is available for Pro users. Sign up to see all Pepper Ecommerce competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Pepper Ecommerce
| When was Pepper Ecommerce founded? | Pepper Ecommerce was founded in 2019. |
| Where is Pepper Ecommerce headquartered? | Pepper Ecommerce is headquartered in New York City, NY, United States. |
| Is Pepper Ecommerce publicly listed? | No, Pepper Ecommerce is a private, VC-backed company. |
| How much funding has Pepper Ecommerce raised? | Pepper Ecommerce has raised $110M across 4 funding rounds. |
| What was Pepper Ecommerce's last funding round? | Pepper Ecommerce's last funding round was a $50M Series C in February 2026, led by Lead Edge Capital. |
| Who are Pepper Ecommerce's investors? | Pepper Ecommerce's investors include Greylock, Index Ventures, Imaginary Ventures, ICONIQ Capital, BoxGroup, Harmony Partners, Brett Schulman, Lead Edge Capital, Interplay, 10X Capital and 4 others. |
| Which companies are comparable to Pepper Ecommerce? | Companies comparable to Pepper Ecommerce include GrubMarket, CADDi, Jumbotail, Bizongo, Alibaba Group and Ocado Group. |
| How many companies has Pepper Ecommerce acquired? | Pepper Ecommerce has acquired 2 companies, including Alima and Kimelo. |
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