After five years of building produce and grocery delivery company Misfits Market in the Philadelphia region, the company is slated to move its headquarters to a spot just south of Baltimore.
Misfits Market was founded by Philly native Abhi Ramesh in 2018 in North Philadelphia, but it moved over the bridge to South Jersey in 2020 when it needed more space for a local distribution center.
The company, which topped Technical.ly’s 2021 RealLIST Startups in Philly, raised large venture capital rounds in quick succession: a $16.5 million Series A in 2019, an $85 million Series B in 2020, a $200 million Series C in 2021, and a $225 million Series C-1 just a few months later in 2021, with a $2 billion valuation. The company became one of just a handful of local tech unicorns, alongside Gopuff, dbt Labs and Phenom.
In the past year, Misfits Markets reevaluated its strategy, acquiring fellow “ugly” food brand Imperfect Foods in 2022 and closing three of its food distribution centers in early 2023, including one in Delanco, New Jersey. The South Jersey center employed 446 employees; 649 employees total were affected by the closures.
On Thursday, company spokesperson Ken Shuman confirmed to Technical.ly that Misfits Market would be moving its main operations to Hanover, Maryland. The company doesn’t have a main office, per se, as many corporate facing employees work remotely, he said.
“We are a fully distributed company with our exec team spread out across the US,” Shuman said in an email. “While we don’t have traditional offices for our employees, we do have five facilities that we operate to store, pack and ship our groceries.” The spokesperson didn’t comment on the reason for the relocation.
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