Misfits Market, Inc.

What does Misfits Market own?

Misfits Market owns two consumer grocery platforms, Misfits Market and Imperfect Foods, plus the Odds & Ends private label. It also operates an owned fulfillment and cold-storage network serving both brands and outside customers.

Is Misfits Market publicly traded?

No. It is a private, venture-backed company last valued at roughly $2 billion in September 2021. There is no stock listing and no announced IPO.

Who founded Misfits Market?

Abhi Ramesh founded the company in 2018 in the Philadelphia area and remains chairman and CEO. He previously worked in finance and health technology before starting the business from an incubator apartment.

Where is Misfits Market headquartered?

The company is headquartered in Delanco, New Jersey, with fulfillment operations including a major cold-storage facility in the Baltimore area and offices historically in Pennsauken and Clackamas.

Who owns Misfits Market?

Founder Abhi Ramesh, company employees, and venture investors including Accel, D1 Capital, Valor Equity Partners, Greenoaks, and SoftBank Vision Fund 2 own the company. No single outside investor has operating control.

What happened to Imperfect Foods?

Misfits Market acquired Imperfect Foods in September 2022 for undisclosed terms. The brand still operates under its own name and website as part of the Misfits Market family, with accounts, loyalty, and fulfillment now shared between the two platforms.

Abhi Ramesh founded Misfits Market in June 2018 in the Philadelphia area after earlier stints in finance and at a health tech startup. He started the business from an incubator apartment, buying surplus and off-grade produce from farms and selling weekly boxes through a simple e-commerce site. Early traction came from consumers drawn to both the discount and the anti-waste mission.

Venture capital arrived quickly: a Series A in 2019, then an $85 million Series B in mid-2020 as pandemic demand for grocery delivery surged. In 2021 the company raised $200 million in April and another $225 million in September at a valuation near $2 billion, backed by Accel, D1 Capital, Valor Equity Partners, Greenoaks, and SoftBank Vision Fund 2.

Flush with capital, Misfits built its own fulfillment and cold-chain logistics, a differentiator in a category where most rivals relied on third parties. In September 2022 it acquired Imperfect Foods, a larger but struggling competitor founded three years earlier, for undisclosed terms. The integration took about a year: technology stacks merged, customer accounts unified under Misfits Perks in August 2023, first-party delivery fleets combined, and the private label rebranded to Odds & Ends.

The combined company then spent 2023 to 2025 rationalizing its cost base. It closed redundant facilities, including the former Imperfect fulfillment center in Clackamas, Oregon at the end of 2024, concentrated operations in fewer, larger warehouses such as its Baltimore cold-storage site, and pushed assortment toward conventional groceries with higher order values. By early 2026 it reported roughly $500 million in annual revenue, margins above 40 percent, and a path toward profitability that Ramesh described as within reach.

The business model itself is the sustainability program: the company sources produce rejected for cosmetic reasons, short-dated packaged goods, and surplus inventory, and reports rescuing an average of 500,000 pounds of food per week across its platforms. The mission framing is genuine and measurable through volume rescued.

Imperfect Foods held B Corp certification before the 2022 acquisition; the combined entity's current certification status should be verified against the B Lab directory, as certification does not automatically transfer with ownership changes. Beyond rescue volume, the company reports standard e-commerce sustainability practices on packaging and efficient route density, primarily through first-party disclosures rather than independent audit.

The company's criticisms have centered on three points. Customers periodically question whether "rescued" items are actually cheaper than supermarket equivalents, a perception risk as assortment shifts conventional. Workers at fulfillment centers have raised typical warehouse-labor concerns, and the company has closed facilities with layoffs, including 64 positions at the Clackamas, Oregon site at the end of 2024. Finally, integration of Imperfect Foods disrupted some customer accounts during the transition. None of these has produced regulatory action, litigation of note, or product safety recalls as of late 2026.