Founded 2015 | ||
Grocerkey explainer video
GrocerKey is a Madison, Wisconsin company, founded in 2015, that creates e-commerce software for grocery stores to sell products online at their in-store prices. Customers can choose to pick up their groceries in the store or have them delivered that day, as long as they order before a certain time. The company does not charge fees up front to build the e-commerce platform; instead, the company generates revenue by charging grocers a fee (ranging from less than 1% to 12% on each transaction conducted through the online store depending on the level of service provided by GrocerKey on behalf of the retailer.)
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Woodman's Markets a Wisconsin-based grocery chain signed up to be a GrocerKey customer, and is also its lead investor.
GrocerKey received $690,000 seed round of equity and convertible debt funding, of which $500,000 was from Woodman’s, $50,000 was from SymphonyAlpha Ventures, and $140,000 from Gener8tor, Angels on the Water, and the BrightStar Wisconsin Foundation.