FoodMaven launches Internet market to use $200B in otherwise wasted food, adds Whole Foods CEO to directors board

Friday November 10, 2017 Tags: Colorado Springs, FoodMaven, Patrick Bultema, Walter Robb

COLORADO SPRINGS --  About 40 percent of food produced by U.S. agriculture gets lost in a complex distribution system and is never used, contributing to the 133 billion pounds of food that's hauled to U.S. landfills each year, representing an estimated $200 billion per year in lost revenue.

Enter FoodMaven, an innovative online marketplace bringing agility and flexibility to the big food system with a business model that complements the big food system by capturing high-quality lost food from oversupply, imperfects and local products.

The company said it has built an efficient Internet marketplace and rapid logistics system for capturing, re-selling and quickly delivering this lost food, drawing on Big Data optimization technology, and an agile logistics model for all food handling, safety and delivery.

"We believe that the food system needs a 'back-to-the-future' play -- an agile hybrid of the best of local, and the best of the current big food system, seamlessly blended together," said Patrick Bultema, FoodMaven’s founder, chairman and CEO.

For restaurants, institutional kitchens, and other buyers challenged by limited time, tight budgets, stringent requirements, and a continuous need to innovate, FoodMaven said it offers significantly discounted high-quality foods from trusted manufacturers, distributors, wholesalers, and local producers to complement their existing suppliers.

The FoodMaven Online Marketplace makes it easy for them to select products and payment options, and choose a delivery window that works for them, the company said.

"FoodMaven saves us money, aligns with our values as a business, and allows us to be creative in the kitchen with our products. A win, win, win," said Russ Ware, co-owner, The Wild Goose Meeting House.

Buyers and sellers using FoodMaven make a positive social and environmental impact, the company said. FoodMaven donates unsold food to hunger relief organizations and operates on a zero landfill policy.

"Our model is good for profits, people, and the planet," said Bultema.

Following a final build out in the Colorado Front Range metro areas, FoodMaven said it will roll out its services nationally in 2018.

FoodMaven also announced former Whole Foods Co-CEO Walter Robb has joined its board of directors.

"Walter is one of the most influential people in the U.S. food system, and we are thrilled to welcome him as a significant investor, trusted advisor, and member of our board of directors," said Bultema.

"His decades of thought leadership in the food industry, experience at Whole Foods Market, and most recently his involvement in Amazon's acquisition of Whole Foods, will be instrumental as we continue to grow FoodMaven and transform how we think about the big food system."

"FoodMaven is going straight at the growing challenge of food waste and has created an imaginative and innovative market-based approach to using more of what we produce," said Robb.

"I am excited to join with Patrick and team to help with this effort and grow the company."