JackBe Secures $3.75 Million SEED Investment to Reimagine Online Grocery Shopping
JackBe, an on-demand, pick-up-only grocery service reimagining how individuals experience grocery shopping, secured $3.75 million in SEED funding for its revolutionary retail grocery concept. The investment is led by Oklahoma-based RCC Ventures with participation from Purpose Equity.
This SEED round is a key investment that supports the opening of the first JackBe grocery store location at 18001 N. May Ave. in Edmond, scheduled to open in early 2023.
JackBe is completely redesigning the way grocery shopping fits into life.
Though many “online” options exist in the market today, JackBe seeks to solve the problems nearly everyone has experienced–long pick-up times, too many substitutions and poorly selected produce. With JackBe, customers can simply place an order anytime, anywhere, on their easy-to-use mobile app, drive to the nearest location and have fresh, handpicked groceries delivered to their car in minutes.
Alex Ruhter, CEO at JackBe, says the support from investors in closing this round of SEED investment is an important step in the continued growth of JackBe in the key Oklahoma City market. JackBe is currently raising an additional $3.5 million in pre-Series A funding to build two more stores in the Oklahoma City area in early 2023.
“I am thankful for the support of our investors because the concept behind JackBe is a game-changer. Our team has spent years focusing on bringing innovation to every aspect of grocery shopping—all with the purpose of making this common chore nearly fun. JackBe puts the customer first and allows families to spend more time together around the dinner table instead of spending hours shopping at the grocery store,” says Ruhter.
Early investor Chad Merrill says, “I am thrilled to be an early investor in JackBe. JackBe’s innovation and disruption in the grocery industry improves the daily life of its customers. From the concept to the first-rate management team, JackBe was a company I wanted to be a part of from the start.”
With customers and the community at the forefront, JackBe focuses on contributing to and supporting the local community, from partnerships with local suppliers to collaborations with non-profit staffing organizations.
Ultimately JackBe is about people, says Nathan Bocock, managing director at Purpose Equity.
“While grocery is the business, it’s really just a means to care for the community, families and employees. The world has enough inwardly-focused business. JackBe is the opposite and I like that. I want my investments to have the greatest impact possible. JackBe accomplishes this in a real, tangible way as they serve both their employees and their customers,” says Bocock.
Ruhter agreed wholeheartedly, which is why he’s leading a team of innovation reimaging what grocery shopping can become.
“With so many competing priorities in our everyday lives, it’s not difficult to convince others that on-demand access to groceries is the ultimate dream,” he says “We’re ready to make this dream a reality. Now, it’s our opportunity to show the Oklahoma City area this dream of convenience, on-demand grocery shopping can come true,” he says.