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Siân Yates

Siân Yates

20 May 2024

Pepper raises $30m to advance food distribution technology

Pepper raises $30m to advance food distribution technology

Pepper, a US-based e-commerce platform for food distributors, has closed a $30 million Series B funding round led by ICONIQ Growth. The round also included participation from existing partners, such as Index Ventures, Greylock, Imaginary and Harmony Partners. Additionally, Richa Mehta, principal at ICONIQ Growth, will join Pepper’s board of directors as part of the deal. According to the company, the funding round signifies a crucial moment for Pepper, 'as it solidifies its position as the most trusted and transparent technology partner to independent foodservice distributors'. Since its last funding round, Pepper has doubled its customer base and introduced over one hundred new product features, enhancing sales, accounts receivable teams and marketing capabilities. The new fund will advance product innovation in core e-commerce experiences, CRM tools, generative AI, rich product content and analytics to support Pepper’s expanding advertising network. Bowie Cheung, CEO and co-founder of Pepper, said: “The tremendous support from ICONIQ Growth and our existing investors not only validates our vision but also reinforces our position as the most trusted and transparent technology partner in the foodservice distribution industry. This funding will enable us to accelerate our roadmap, focusing on innovative solutions that meet the evolving needs of our customers and strengthen their operations.”

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