GrubMarket, a prominent player in the AI-powered technology sector for the food supply chain, has officially acquired Parsemony, a distinguished enterprise software provider based in Alameda, California. This acquisition aims to bolster GrubMarket's software services and enhance its portfolio, which features products such as WholesaleWare and GrubAssist.
Founded in the late 1980s by Carl Mahon as Vintrex Inc., Parsemony has been recognized for its innovative software solutions tailored for fresh produce distributors, wholesalers, and food service suppliers. The company's flagship product, Profitsense, has evolved significantly and is complemented by a range of offerings, including a cloud-based Point of Sale (POS) system, custom software engineering services integrating with systems like QuickBooks, and comprehensive IT services focused on cybersecurity and compliance consulting for the food supply chain.
Following the acquisition, Parsemony will retain its existing leadership team, ensuring continuity for its customers, who will gain access to GrubMarket's extensive service offerings, including Orders IO and GrubPay.
Colin Hare, the owner of Parsemony, commented on 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.” Hare emphasized the importance of the people within the industry, noting the hardworking nature of GrubMarket's team.
Mike Xu, the CEO of GrubMarket, highlighted the significance of this acquisition, affirming that it strengthens GrubMarket's position as a leading technology enabler within the food supply chain. “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,” Xu stated.
With Parsemony's software solutions now set to integrate into GrubMarket’s portfolio, the expected advancements are pronounced. The integration of technology will also enhance GrubMarket’s proprietary software offerings, including WholesaleWare and GrubAssist, both designed to improve efficiency in areas such as financial management, inventory management, and automated order processing.
As GrubMarket continues to expand its influence, it has made notable recent strides, including the acquisition of the South African distributor Global Produce and announcing initiatives focused on sustainability, such as the Sustainable California initiative aimed at supporting local farmers and combatting climate change. The acquisition of Parsemony adds another dimension to GrubMarket's commitment to utilising cutting-edge technology to modernise and elevate the food supply chain industry, thereby furthering its mission as a digital transformer in this sector.
Source: Noah Wire Services