MyWebGrocer Secures Additional Funding

MyWebGrocer, provider of online shopping solutions to the retail supermarket industry, announced that it had secured a commitment of $2 million in additional funding from current investors.

Rich Tarrant, CEO of MyWebGrocer stated,"We are pleased with the progress we have made in providing a premiere online shopping solution to the supermarket industry. By using our Consumer Direct shopping solution, supermarkets are able to enter this new channel at a fraction of the cost and time then they otherwise might. We are the established leader in this market segment with, by far, the largest number of retail organizations in the country using our Consumer Direct product. With this additional commitment we can accelerate the roll out of stores as well as introduce some new and exciting products for the grocery vertical"

Ron Roberts, of Roberts Asset Management, an initial investor in the company, said,"We are excited about investing additional capital in MyWebGrocer. The progress that has been made in the last 12 months is extraordinary. The systems and process' are in place, the model is proven, now it is a matter of simply rolling out stores. And these guys have shown they can do that."

MyWebGrocer clients include Lowes Foods, SuperValu, Farm Fresh Markets, D'Agostino Supermarkets, Snyders IGA, Harris Teeter, Unified Western Grocers and dozens of other supermarket chains.
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