Choice Market Secures Growth Capital

Choice Market has accessed an additional round of financial backing to embark on an enhanced growth strategy, including opening new convenience stores and rolling out new services, such as improved delivery. The company has secured financing to help fuel this next phase of its expansion and development, adding two new board members with experience in scaling high-growth consumer brands.

Founded in 2017, Denver-based Choice operates three omnichannel c-stores in the Denver metropolitan area with an additional location scheduled to open by the end of the year. This round of financing is a portion of the overall capitalization and will fund the opening of additional locations, build out of the organization and deployment of Choice Market’s proprietary digital customer experience across new channels and formats, the company said.

Choice’s new board members are Martin Dolfi, managing partner of M3Ventures, a consumer brand-focused investment firm based in New York; and Jason Kastner, managing director of the National Advisory Group, Washington, D.C., and previously head of real estate for Sweetgreen. Kastner led the company’s development from a regional to a national chain of more than 100 health-focused restaurant locations.

“We are pleased to have secured this new funding and the addition of these two talented individuals to our board of directors,” said Mike Fogarty, founder and CEO of Choice Market. “Both Jason and Martin bring unique yet complimentary experience to the organization and will be critical stakeholders as we continue to scale Choice across the U.S.”

Choice is launching a new mobile app, e-commerce website, native delivery and loyalty program. As of Sept. 18, customers will be able to order any item from Choice’s selection for contactless pickup or for “e-delivery” which uses a fleet of electric vehicles and e-bikes. Choice’s third store, which opened in July, is its first to offer a “mobility” options including gasoline and electric-vehicle charging.

With the launch of this new digital experience, customers can shop for groceries, prepared foods and alcohol by dietary lifestyle, local suppliers or recipe and will receive personalized offers based on their shopping history. Starting with its fourth location, Choice will offer a frictionless experience in which customers can use their mobile app to pre-order prepared food, scan a QR code upon arrival, grab their groceries and leave without ever checking out.

Choice Market combines convenience, service and technology with fresh food and groceries from local vendors and a curated, environmentally friendly product selection including everyday necessities. It also offers seasonal meals from a full-service, scratch kitchen with classically trained chefs. Choice works with local farmers to source most of its ingredients and products, including organic produce and antibiotic-free and nitrate-free proteins, it said.