Startup to Accelerate Safety Solutions in Fresh Food Supply Chain
Realizing that the quality of fresh produce in grocery stores has become increasingly important to consumers, software and database solutions provider iFoodDS is upping its efforts to optimize the safety, quality and value of fresh food using real-time supply chain visibility, thanks to $15 million raised in a Series A funding round.
iFoodDS was formed in 2013 in recognition of the industry’s need to move beyond static safety records to a dynamic platform that could enable proactive safety practices and real-time management of risks across the food supply chain for operations of any scale.
Last year, iFoodDS acquired HarvestMark, a provider of food traceability software and quality insight solutions, with more than 22 U.S. patents. By integrating HarvestMark's traceability and quality inspection information with iFoodDS' real-time food safety data, the combined company has been able to offer a comprehensive supply chain management platform that benefits fresh produce grower/shippers, packers, processors, distributors, foodservice companies and grocery retailers globally.
"The past 12 months have brought unprecedented change to the produce industry – from changing consumer shopping behaviors perpetuated by the pandemic to new regulation proposed by the FDA. These changes are accelerating a rapid transformation in the industry – one that is essential to delivering wholesome, high-quality produce," said Scott Mathews, CEO of Kenmore, Washington-based iFoodDS.
The startup’s cloud-based platform allows its customers instantaneous visibility across the supply chain, delivers real-time food safety practice assessment and data capture, and provides solutions to improve the quality of produce deliveries.
"iFoodDS has emerged as the leading provider of food safety, traceability, and quality software for the supply chain due to their innovative product lines and technological and scientific expertise," noted Vic Smith, CEO of Yuma-Arizona-based JV Smith Cos. Smith is both an iFoodDS customer and member of its board of directors. "The company is positioned to continue its evolution as a product innovator and solution provider as well as a thought leader for both its customers and the broader produce industry."
The latest funding round was led by Insight Partners, a global venture capital and private equity firm focused on investing in ScaleUp software companies.
"With the support of Insight Partners, we're well positioned to scale our efforts to help stakeholders in the supply chain improve their operations; provide transparency from farm to fork; deliver wholesome, high-quality produce; and connect their brand with consumers," said Mathews.
"The shift to data-driven, cloud-based solutions is still in its early stages for many stakeholders in the fresh food supply chain. iFoodDS fills a crucial role in enabling these businesses to transform their food safety, traceability and quality management processes, giving them the power to build value with their trading partners and connect with consumers at the retail shelf," said Allyson White, principal at New York-based Insight Partners. As part of this funding round, White will join the iFoodDS board of directors.
