What Is Mable?
Mable is a startup that has developed a platform built to help connect grocery stores and other direct food providers to independent grocers and distributors to create an easier process from farm to table. The platform’s basic premise is to connect brands, regional distributors, and retailers in one place to make the purchasing and collecting of inventory as seamless and efficient as possible.
Mable’s idea is tapping into a grocery market worth $641 billion in a way that no other companies are really doing. Especially for startup food brands, which often need significant early funding to get the exposure and major food distributor brokership needed to succeed, Mable has made a world of difference. In fact, Mable has already made a major impact on independent and regional food brands already.
Since Mable launched, there have been over 600 different brands housed on the platform resulting in over 6,000 different products available for purchase. This growth is further backed up by the platform’s actual effectiveness, which has an impressive 80% success rate for connecting brands to new retail accounts. In fact, their popularity and achievement has led to incredible praise amongst many within the industry as well. The Sales and Marketing Director of Associate Buyers, Ryan Owens, has said about the startup, “Mable allowed us to roll out modern ordering technology in just a few days, enabling hundreds of our stores to save time ordering as well as discover more products we offer. Our sales team now spends time introducing new products to customers instead of taking orders.”
As a result, Mable has attracted the interest of several different investors who have noticed the success and praise the startup is garnering.
Mable’s Funding Round and Future Plans
In Mable’s Series A funding round, the startup raised $8.5 million from a variety of different investors. The funding round was led by Venrock with participation from Accomplice, Founder Collective, and Underscore. While both Accomplice and Founder Collective had been investors in previous rounds, Underscore was new to Mable’s Series A funding round. The startup’s prior and new funding combined add up to a total of up to $11.6 million. What is more exciting for Mable than the funding itself is their plans for what the startup will do with its newly raised capital.
Mable plans on using the new funding to build a larger team of staff, which will in turn work to help Mable achieve their other goals, including advancing their own platform’s capabilities and interface. Additionally, the startup is looking forward to building a larger network of distribution partners across the United States to further expand its platform and support even more brands. Given these lofty plans, the strength of their platform, the enthusiasm from the brands and distributors, and their recent funding, Mable looks primed to see strong growth and success moving forward.
Mable is providing solutions to problems that consumers simply accepted as the standard for business conduct in this market for many years. With more regional food brands, distributors, and grocers being a part of this new system, Mable has a platform that is looking to see exponential growth in the future. Especially considering the growing demand from consumers to have more regional, independent food sources, Mable is in the unique position to see demand for its offerings, leading its platform into continued success.
About the Author
Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.