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Venture Capital News: Good Eggs Receives $15M

2016-07-28
SAN FRANCISCO, CA, Good Eggs, an online organic grocery, has raised $15 million in new VC funding led by Index Ventures.
According to DigitalTrends, Good Eggs has now raised $15 million in a recent round of venture funding. The digital grocery business appears to have new life in its quest to expand across the country, and with the recent influx in successful food delivery startups, it seems that Good Eggs may be reviving itself at the right time.

First founded in 2011 'with the mission to grow and sustain local food systems worldwide,' Good Eggs differentiated itself with its 'commitment to working with the best local farmer's and foodmakers.' But soon, the company seemed to realize that running a successful farmer's market online is just as difficult as it is in real life -- it recently ceased all operations in New York areas. But now, in a pivot of sorts, the company seems to have retreated from its more artisan approach, instead 'expanding the assortment of products it offers by more than 1,000 items, and beginning to use third-party logistics services to supplement its fleet of truck drivers to ensure on-time deliveries,' TechCrunch reports.

Still, the Good Eggs site promises an experience that is superior to say, a FreshDirect or an Instacart. Their produce claims to be 'nine days fresher than the other guys,' and you get free next-day delivery on every order over $60, seven days a week.

But it's not just other online grocers that Good Eggs has to beat out. Traditional grocery stores (and actual farmer's markets) continue to be the primary shopping source for many consumers. 'A majority of people still shop at brick and mortar,' said Good Eggs CEO Bentley Hall. 'I'm eager to get people shifting to online grocery and accelerating that shift.'

And just maybe, if Good Eggs can truly find a way to bring the local market to you, it'll be at the forefront of that shift.
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