US-based iFoodDS, a leading platform provider of food safety, traceability, and quality management solutions for the fresh food supply chain, has raised US$15 million in a Series A funding round led by Insight Partners, a global venture capital and private equity firm focused on investing in startup software companies. iFoodDS will use the funding to accelerate product innovation and support its market and category expansions.
Developed specifically for the food industry, iFoodDS says its cloud-based platform provides retailers, foodservice chains, processors, shippers, packers, and growers with 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.
“The past 12 months have brought unprecedented change to the produce industry – from changing consumer shopping behaviours perpetuated by the pandemic to new regulation proposed by the FDA,” said Scott Mathews, CEO of iFoodDS. “These changes are accelerating a rapid transformation in the industry – one that is essential to delivering wholesome, high-quality produce. 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.”
Over the past year, iFoodDS has experienced rapid growth and expansion, acquiring HarvestMark and its line of traceability solutions (with blockchain compatibility) and doubling its employee count, all while growing the iFoodDS global and US customer footprint and welcoming some of the world’s most prominent produce, foodservice, and grocery retail logos to its customer base.
“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 Insight Partners. As part of this funding round, White will join the iFoodDS board of Directors.
“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,” concluded Vic Smith, CEO of JV Smith Companies. “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.”
Originally part of iDecisionSciences (iDS), a Seattle-based consulting practice — iFoodDS can trace its roots in the produce food safety scene back to 2006, following the outbreak of E. coli O157:H7 associated with spinach.
In the ensuing years, iDS worked closely with national and regional produce associations to develop food safety best practices and metrics for leafy greens as well as other major produce commodities. Out of this work, iFoodDecisionSciences Inc was formed in 2013 to provide software solutions to produce companies to help them better manage the extensive data requirements of their food safety programs, and switch from static safety records to a dynamic platform that enables proactive safety practices and real-time management of risks across the food supply chain.
In 2020 the company acquired HarvestMark, a leading provider of food traceability software and quality insight solutions with more than 22 US patents
