Grabango raises $39m to scale up checkout-free tech offering

Checkout-free technology startup Grabango has closed a $39 million Series B raise.

Led by Commerce Ventures with participation from Founders Fund, Unilever Ventures, Honeywell Ventures, and WIND Ventures, this brings Grabango’s total capital raised to $71 million.

With the fresh funds, it will expand into new stores and boost its development team.

Thank you for getting the good word out Deanna. Free coffee while skipping the line sounds like a powerful GetGo combo! https://t.co/gO54hYZc9T
— Grabango (@grabango) February 10, 2021

“We evaluated nearly every company in the space and chose Grabango because they had the most robust technology, an approach that works in complex retail environments, and an incredible team. This combination is why they continue to pull away as the market leader,” says Matt Nichols, Partner at Commerce Ventures.

“Incredibly, the $5.7 trillion grocery market had been left behind as tech innovation focused on other sectors. Grabango delivers a new level of convenience for shoppers and will transform the economics of grocery and convenience stores across the world.”

Grabango, which was founded in 2016, has thus far signed five retail partners, including Giant Eagle. It says that multi-store deployments are underway at several.

“Our success over our 90 year history is founded in our commitment to service and innovation,” says Laura Karet, President and CEO at Giant Eagle.

“In the past decade, we have experienced significant growth in using technology to advance how our customers shop with us in-store and online. Grabango is a key partner in what we will accomplish in the next 10 years.”

“Since we first introduced their system last fall, we’ve seen GetGo customers embrace the technology and use it with enthusiasm.”

“We’re excited to roll-out this technology to additional GetGo locations in the coming months so more of our shoppers can enjoy the convenience of safely skipping the checkout line.”