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§ Private Profile · 116 New Montgomery St Ste 400, San Francisco, California, 94105, United States
AI-powered SaaS platform for grocery retailers, optimizing inventory and ordering for fresh produce, meat, and bakery to reduce waste.
Based in San Francisco, California, Afresh develops an artificial intelligence-powered inventory management and store operations software platform to help grocery retailers optimize the ordering of perishable foods. The company operates a business-to-business software-as-a-service model, deploying its technology across more than 3,000 grocery stores to manage billions of dollars in annual sales. By providing accurate demand forecasting for produce, meat, and bakery items, the platform serves nearly ten percent of United States supermarkets and has prevented over ten million pounds of food waste. Afresh is utilized by major supermarket chains including Albertsons and WinCo Foods, and is backed by prominent venture capital firms such as Spark Capital and Insight Partners. The enterprise has raised $148 million in total funding since it was founded in 2017 by Matt Schwartz, Nathan Fenner, and Volodymyr Kuleshov.
Afresh has raised $133.0M across 2 funding rounds.
Afresh has raised $133.0M in total across 2 funding rounds.
Afresh has raised $133.0M across 2 funding rounds. Most recently, it raised $120.0M Series B in August 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 1, 2022 | $120M Series B | Spark Capital | 11K Ventures, AI.FUND, Innovationsstarter, Supply Change Capital, TOM Williams, Walter Robb, HighSage Ventures, Innovation Endeavors, Insight Partners, Maersk Growth, Sonae IM, VMG Partners | Announced |
| Nov 19, 2020 | $13M Series A | — | Baseline Ventures, James Mccann, Innovation Endeavors, Maersk Growth | Announced |
Afresh has raised $133.0M in total across 2 funding rounds.
Afresh's investors include Spark Capital, 11k Ventures, AI.FUND, Innovationsstarter, Supply Change Capital, Tom Williams, Walter Robb, HighSage Ventures, Innovation Endeavors, Insight Partners, Maersk Growth, Sonae IM.
Afresh Technologies is an AI-powered software company that builds a comprehensive platform to optimize fresh food supply chains for grocery retailers, focusing on replenishment, production planning, inventory management, and forecasting.[1][2][3][4] It serves major grocers like Albertsons, Wakefern, Fresh Thyme, and Stater Bros across North America, solving chronic issues in fresh departments—such as produce, meat, seafood, deli, and bakery—where perishability, unpredictable demand, data inconsistencies, and supply chain disconnects lead to high waste (up to one-third of produce uneaten) and lost profitability.[1][3][4][5] The platform drives shrink reduction, higher margins, better availability, and sustainability by cutting food waste, water use, and emissions, with deployments in over 7,000 fresh departments and on track to prevent 30 million pounds of waste annually from existing customers alone.[1][3]
Founded in 2017 and headquartered in San Francisco, Afresh has raised $140M in funding (including a $115M round), employs around 100 people, and generates $21M in revenue, earning recognition as a next-generation supply chain innovator.[2][3][6]
Afresh was founded in 2017 by CEO and Co-Founder Matt Schwartz and a team driven by the mission to eliminate food waste and make fresh food accessible to all, addressing the fact that one-third of grown food goes uneaten, wasting resources like water and emissions across the supply chain.[1][2][3][5] The idea emerged from recognizing the fresh grocery sector's unique complexities—volatility, perishability, and fragmented tools—that center-store software couldn't handle, leading to massive inefficiencies in the multi-trillion-dollar industry.[1][4] Early traction came from produce optimization, expanding by 2023 to meat, seafood, deli, and foodservice, with pivotal rollouts like Albertsons deploying to over 2,000 stores in 2023 and partnerships with retailer-owned cooperatives like Wakefern.[2][3][4]
Afresh rides the wave of AI-driven supply chain digitization in grocery retail, targeting the $1T+ fresh segment plagued by 30-40% waste amid rising sustainability demands, labor shortages, and consumer focus on fresh/nutritious food.[1][3][5] Timing aligns with post-pandemic supply disruptions and regulatory pressures on emissions/food waste, amplified by grocers' need for precision amid inflation and e-commerce growth.[2][4] Market forces like Albertsons' nationwide rollout favor Afresh, positioning it as a leader in "connected fresh supply chains" and influencing the ecosystem by setting standards for AI in perishables, enabling retailers to compete with industrialized center-store efficiency while advancing UN sustainability goals.[3][4]
Afresh is primed to dominate fresh grocery tech as it launches expansions like the Fresh Store Suite and Fresh Buying, potentially capturing more of the $5T+ global food supply chain.[2][3][4] Trends like generative AI for forecasting, regulatory waste mandates, and retailer consolidation will accelerate adoption, with Afresh's $140M war chest fueling international growth and category breadth.[2] Its influence could evolve from waste-reducer to full fresh ecosystem orchestrator, blending profitability with impact—transforming how grocers deliver fresher food worldwide, much like it already does for thousands of stores today.[1][3]