Key Takeaways
- GrubMarket has acquired Parsemony, an enterprise software provider for fresh produce distributors, wholesalers, and food service suppliers.
- The acquisition enhances GrubMarket’s software services and expands its existing portfolio, including products like WholesaleWare and GrubAssist.
- Parsemony, founded in the late 1980s, offers a range of software solutions including POS systems, custom software engineering, and comprehensive IT services.
- Parsemony will continue under its current leadership, with customers gaining access to GrubMarket’s additional services.
- Leaders from both companies express enthusiasm for the merger, highlighting the potential for enhanced technology integration in the food supply chain industry.
GrubMarket Acquires Enterprise Software Provider Parsemony
GrubMarket, a leading AI-powered technology enabler and digital transformer for the food supply chain industry, announced the acquisition of Parsemony, a provider of comprehensive enterprise software services based in Alameda, California. This strategic move is set to bolster GrubMarket’s software capabilities and enhance the functionality of its existing portfolio, which includes notable products like WholesaleWare and GrubAssist.
Enhancing Software Services
Parsemony, originally founded as Vintrex Inc. in the late 1980s by Carl Mahon, was known for its signature software product, Profitsense. Rebranded in 2017 by current owner Colin Hare, Parsemony has continued to develop and upgrade Profitsense, providing enterprise-wide software solutions tailored to the fresh food business sector. The company’s offerings include:
- A cloud-based POS solution for inventory and order management via handheld devices.
- Custom software engineering services for expanding ERP functionalities and integrating with third-party systems like QuickBooks.
- Comprehensive IT services, including network setup, tech support, cloud computing, cybersecurity, and compliance consulting, specifically for food supply chain businesses.
Following the acquisition, Parsemony will retain its leadership team and provide its customers with opportunities to expand their software and enterprise AI capabilities through GrubMarket’s additional services such as WholesaleWare, GrubAssist, Orders IO, and GrubPay.
Leadership Perspectives
Colin Hare, owner of Parsemony, expressed enthusiasm about the acquisition, stating, “I have been building software and technology solutions for the fresh produce industry for almost two decades now. I find it extremely rewarding to help transform traditional, offline businesses into more modernized, tech-enabled operations. Parsemony is excited to join GrubMarket, which shares our passion for utilizing technology to maximize value for the food supply chain industry. The produce industry is all about the people, and GrubMarket’s team has some of the most genuine, hardworking people in the business. We can’t wait to help further GrubMarket’s mission to be the most impactful digital transformer for the entire food industry.”
Mike Xu, CEO of GrubMarket, added, “The acquisition of Parsemony solidifies GrubMarket’s position as the market-leading technology enabler for America’s food supply chain industry. Parsemony has a sterling reputation among the fresh produce industry’s software and technology ecosystem and nicely complements GrubMarket’s existing software products. We’re thrilled to bring Colin’s considerable expertise to GrubMarket, to support the continued evolution and growth of our best-in-class AI-powered software and eCommerce offerings for our customers.”
Expanding Technology Integration
Parsemony’s software solutions will integrate into GrubMarket’s extensive portfolio, which includes:
- WholesaleWare: GrubMarket’s proprietary, AI-powered ERP software, offering financial management, sales support, online ordering, inventory management, and logistics.
- GrubAssist: An enterprise AI assistant that provides deep insights, intelligent analysis, and automated order processing.
- Orders IO: A custom branded mobile eCommerce solution.
GrubMarket Latest News
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GrubMarket has completed the acquisition of Global Produce, a South African company specializing in sourcing and distributing a wide variety of fresh fruits. This extends GrubMarket’s operations internationally, particularly in the distribution of grapes, citrus, apples, blueberries, and exotic items like Malaysian dragon fruit. Global Produce has offices in Cape Town, Jakarta, Hong Kong, and Ho Chi Minh City, with a supply network across Africa, the Middle East, Southeast Asia, and the Pacific. The company supports local farmers through vertical integration. With the integration into GrubMarket, Global Produce plans to leverage new technologies and expand its market reach.
Marks a Year of Environmental Impact with the Sustainable California Initiative (2024/03/27)
GrubMarket celebrated a year of progress since launching its Sustainable California initiative. They partnered with One Tree Planted to plant 100,000 trees in Northern California to combat climate change and support wildlife. GrubMarket also collaborated with the California Certified Organic Farmers to support underserved farmers transitioning to organic agriculture. They aim to create a more sustainable and equitable food system.
GrubMarket’s Latest Innovation (2024/02/01)
GrubMarket and WholesaleWare have integrated their AI technology to enhance the food supply chain industry. The integration leverages generative AI to provide immediate access to extensive wholesale market pricing data for sellers. On the buying side, the AI tool surfaces crucial market data for Free On Board (FOB) and delivered costs. This streamlines negotiations for both buyers and sellers, fostering deeper trust and stronger relationships. The GrubMarket AI integration is accessible to both existing and new WholesaleWare customers.
Acquisition of A&B Tropical Produce (2023/12/21)
GrubMarket has acquired A&B Tropical Produce, a Miami-based company known for its expertise in sourcing exotic fruits and vegetables. A&B’s strategic location near South Florida’s major ports and global scale, with supplies from Ecuador, Costa Rica, and Colombia, will strengthen GrubMarket’s position in the global food supply chain. A&B will benefit from GrubMarket’s WholesaleWare software suite, streamlining its financial management, inventory control, and logistics.
Announces Strategic Partnership with California Certified Organic Farmers (2023/06/07)
GrubMarket, a leading online marketplace for local farm goods, announced a multi-year partnership today with California Certified Organic Farmers (CCOF), a nonprofit dedicated to promoting and certifying organic farming. The partnership is a strategic move under GrubMarket’s Sustainable California initiative, which focuses on supporting socially disadvantaged farmers in the state. The new alliance aims to sponsor cohorts of farmers from underserved communities, helping them secure organic certification, adopt organic farming practices, and move towards long-term sustainability.
Appoints Mark Tisdel as Independent Board Member (2023/04/12)
Mark Tisdel has been appointed as an independent board member and chair of the audit committee by GrubMarket. Tisdel, a seasoned financial executive with over 30 years of expertise in accounting and finance, will be a crucial advisor to GrubMarket as it works to maintain its position as a leader in the food technology sector.
GrubMarket Expands Fresh Produce Supply to Eastern Europe and Egypt (2023/03/28)
GrubMarket, a global fresh produce importer and exporter, has announced its expansion into the Eastern European countries of Ukraine and Romania and opened a new office in Egypt through its subsidiary Salix Fruits. Salix Fruits operates in 20 countries and serves over 450 business customers in 50 countries worldwide. The company imports and exports apples, lemons, oranges, tangerines, pears, grapes, and other fresh produce. With its expansion into Ukraine and Romania, GrubMarket is positioning itself to address worldwide food shortages and geopolitical disruptions in the global food supply chain. Despite logistics and transportation challenges, GrubMarket supplied a variety of fresh fruits to most regions around Ukraine in 2022, growing the total volume of products supplied by almost 20% over the year.
Launches Sustainable California Initiative (2023/03/10)
GrubMarket recently announced the launch of its Sustainable California initiative. The program aims to promote sustainable agricultural practices and environmental preservation in the state by investing a portion of the company’s net profits in various endeavors, including planting trees to preserve the farming environment, financially supporting local farmers to obtain organic certifications, and developing innovative technologies to improve the sustainability of California’s farming system. The initiative will also address challenges facing California’s agriculture industry, such as water scarcity, soil depletion, and climate change.
Image provided by GrubMarket
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