iFoodDS secures $15m investment to support growth acceleration

Food safety solutions provider iFoodDS has raised $15m in a Series A funding round to accelerate product innovation.

The round was led by global venture capital and private equity firm Insight Partners.

iFoodDS Cloud-based platform has been designed specifically for the food industry, which provides visibility across the supply chain and delivers real-time food safety practice assessment to retailers, foodservice chains, processors, shippers, packers and growers.

iFoodDS CEO Scott Mathews said: “The past 12 months have brought unprecedented change to the produce industry, from changing consumer shopping behaviours perpetuated by the pandemic to new regulation proposed by the FDA.

“These changes are accelerating a rapid transformation in the industry – one that is essential to delivering wholesome, high-quality produce.

“With the support of Insight Partners, we’re well-positioned to scale our efforts to help stakeholders in the supply chain improve their operations, provide transparency from farm to fork, deliver wholesome, high-quality produce, and connect their brand with consumers.”

In addition to fast-tracking its innovation capabilities, iFoodDS will use the funding to support its market and category expansions.

iFoodDS said that it experienced ‘rapid growth and expansion’ in the past year, including acquiring HarvestMark, as well as its line of traceability solutions and doubling its employee count.

JV Smith Companies CEO Vic Smith said: “iFoodDS has emerged as the leading provider of food safety, traceability, and quality software for the supply chain due to their innovative product lines and technological and scientific expertise.

“The company is positioned to continue its evolution as a product innovator and solution provider, as well as a thought leader for both its customers and the broader produce industry.”