JackBe Raises $11.5M in Capital Funding
Curbside drive-thru grocer JackBe has raised $11.5 million in capital to fast-track the development and expansion of its business. The funding came from several individual investors and strategic partners, including GP Investments LLC, in addition to a successful WeFunder campaign.
“We invested in JackBe because of the team’s ambitious and innovative vision to transform the grocery shopping experience to convenience, simplicity and exemplary service,” said investors Michael and Charity Woodard. “It’s a refreshing new approach to grocery shopping, for the working family to an elderly couple. We love the niche focus on expert customer service and think they will achieve an overwhelming response from lifetime shoppers. Alex [Ruhter], the CEO, has a strong vision and leads with Christian values. This shared vision will help drive the company forward as it scales. We were most impressed by his willingness to allow families with his shared passion and vision to be a part of the JackBe family. We believe in JackBe, we believe in the team, and we believe that JackBe will become a family staple.”
JackBe, which opened its first store this past January in Oklahoma City, eliminates in-store shopping. Customers place an order anytime, anywhere, on the easy-to-use JackBe mobile app; drive to the location; and have fresh, handpicked groceries delivered to their car in minutes. Additionally, there are no membership or delivery fees for shoppers.
According to the company, as grocery shopping continues to evolve, drive-up grocers are poised to expand in the food retail space.
“We believe that grocery shopping can be better and have embarked on a mission to make buying groceries ‘nearly’ fun again,” explained Ruhter. “With our seed funding and pre-series A funding, we've built and opened the first premier curbside drive-thru grocer in the U.S., to serve people in and around Oklahoma City. Our first store is paving the way to take our concept to suburbs nationwide. The investment validates our concept as well as our vision to foster a fundamental shift in the way people shop for groceries. We look forward to quickly expanding, offering individuals and families alike curbside grocery convenience without compromising on customer care, value nor quality.”
Similar concepts include Opie, which operates a drive-thru store in Mount Pleasant, S.C.; Farm Stores, a drive-thru grocery store and bakery chain that has been in operation since 1957 and runs several franchise locations in Florida; and Addie’s, which debuted in Norwood, Mass., just south of Boston.
