AI-Powered Grocery and Recipe Delivery Service, Hungryroot, Announces 67% Revenue Growth in First Half of 2023

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Aug 16, 2023, 09:00 ET

Fueled by AI business model that offers a highly personalized grocery experience

NEW YORK, Aug. 16, 2023 /PRNewswire/ -- Hungryroot, the AI-driven healthy grocery and recipe service that is redefining food-at-home, making it more personal, sustainable and economical, today announced 1H 2023 revenue of $182MM, a YOY increase of 67%. The last quarter was an inflection point in Hungryroot's growth story. The company achieved YTD profitability and is set up for continued profitable growth in 2023 and beyond.

"In 2019, we pivoted to become an AI-driven, truly personalized healthy grocery and recipe service," said Ben McKean, Founder and CEO of Hungryroot. "Since then, we've grown more than 10x by using our AI to flip the traditional grocery shopping experience on its head, starting with a full cart instead of an empty one. Today, our AI selects two-thirds of what our customers buy, saving them time and worry, introducing them to delicious new foods and helping them accomplish their health objectives. The trust we've built with our customers through our experience sets us apart and has helped us drive profitable and sustainable growth."

Through a simple onboarding quiz and continuous user engagement, Hungryroot collects more than 100 explicit data points and numerous implicit signals used to fill shoppers' carts with groceries and recipes personalized to their health goals and lifestyle needs, from a variety of modern food brands, private label items, and over 6,000 chef-crafted recipes. An AI trailblazer in the food industry, Hungryroot's large-scale constraint optimization algorithm, trained using data from over 7 million orders and over a hundred million groceries sold, delivers a highly personal experience that consistently gets better and better over time.

In addition to our proprietary AI, Hungryroot will continue to explore ways to further integrate AI into everyday business operations. Laser-focused on initiatives that will continue accelerating growth, Hungryroot will prioritize meaningful advancements in AI that optimize data gathering and analysis, as well as continue to support our connection with our customers via content and recipe generation, and to support our care agents.

"We've already redefined food at home," said McKean, "and with technology quickly evolving and an increased interest in how tools such as ChatGPT can positively impact customer experiences, we're eager to continue our leadership in the use of AI to provide value we know shoppers are hungry for. Between recent enhancements made to our operations, digital, food, and delivery experiences, and the ones still to come, AI will continue to play a significant role in shaping Hungryroot's future."

Learn more about Hungryroot at: www.hungryroot.com.

About Hungryroot
Hungryroot is the only grocery and recipe delivery service designed to make healthy eating easy, personal, and sustainable. Take a short quiz to tell us about yourself, and our proprietary AI technology fills your cart each week with healthy groceries and simple recipes that best suit your needs and goals. Grocery shopping doesn't have to be time-consuming, and meal planning shouldn't be stressful. We're doing what no other store or service does by blending recipe discovery, food planning, and shopping to create a stress-relieving, personalized experience that improves with every visit.

Hungryroot currently offers 600+ groceries that meet our high-quality Root Standard and 6,000+ chef-crafted recipes that are nutritious, easy to follow, and aim to reduce food waste wherever possible. Learn more at www.hungryroot.com.

Contact - Hungryroot@5wpr.com

SOURCE Hungryroot