Misfit joined the Unicorn Club on April 21, 2021, after raising a $200 million Series C round led by Accel, valuing it at $2 billion. Headquartered in Philadelphia, Pennsylvania, United States, Misfit operates a subscription platform that delivers boxes of surplus fruits and vegetables, sourced directly from farmers, to reduce food waste and promote sustainability.
By building direct supply chains between growers and consumers, the company reduces inefficiencies and supports sustainable farming practices. Through tech-driven logistics and a growing customer base, Misfit has emerged as one of the fastest-rising names in online grocery.
What Is Misfit and What Does It Do?
Founded in 2018, Misfit provides a subscription-based service offering boxes of surplus fruits and vegetables. The company rescues imperfect but high-quality produce that would otherwise go to waste and delivers it directly to customers’ homes.
Working closely with farmers and suppliers, Misfit addresses key issues in food waste and affordability while promoting a transparent, sustainable supply chain.
How Much Funding Has Misfit Raised?
1. Series C Round
- Amount Raised: $225 million
- Date: September 14, 2021
- Valuation: $2 billion
- Lead Investors: Accel, Blisce, SoftBank Vision Fund
- Purpose: Expand logistics, enhance supply chain tech, and strengthen delivery infrastructure
2. Earlier Rounds (Seed to Series B)
- Cumulative Funding: ~$301 million
- Key Investors: Greenoaks, Valor Equity Partners, and others
- Purpose: Scale operations, partner with growers, and grow customer base
Total Funding Raised: ~$526 million
Latest Funding Date: September 14, 2021
Latest Known Valuation: ~$2 billion
Employee Count: 382 (as of December 31, 2020)
Key Investors
1. Accel
- Details: Global VC firm backing early and growth-stage companies in tech and consumer sectors.
- Focus Areas: Marketplaces, logistics, and sustainability.
2. SoftBank Vision Fund
- Details: Investment arm focused on transformative internet and logistics businesses.
- Focus Areas: E-commerce, AI-driven logistics, and consumer tech.
3. Blisce
- Details: Growth investment firm supporting mission-driven consumer and tech brands.
- Focus Areas: Sustainability, digital commerce, and social impact ventures.
Where Is Misfit’s Headquarters?
Misfit is headquartered in Philadelphia, Pennsylvania, United States, overseeing sourcing, logistics, and nationwide fulfillment operations from its central office.
What’s Next for Misfit?
Misfit plans to expand its AI-powered logistics and predictive supply chain capabilities to improve efficiency and reduce spoilage. The company aims to extend into new grocery categories, strengthen farm partnerships, and explore international delivery opportunities.
With its $2B valuation and 3-year path to unicorn status, Misfit continues to redefine online grocery through sustainable sourcing and data-driven operations.
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