Connecticut company acquires Madison startup

GrocerKey, a Madison startup company that develops software for ordering groceries online, has been sold to Stamford, Connecticut-based Point Pickup Technologies, according to a Wisconsin State Journal report. GrocerKey was purchased for $42 million by the company that services customers including Walmart and Kroger, the two largest grocery retailers in the country. GrocerKey was founded in 2014 by Jeremy Neren and Daniel Glucksman and by 2017 reported revenues of $2 million. Neren will remain with the company and serve as senior vice president of e-commerce strategy. The company currently has 55 employees at its corporate office, at 821 East Washington Ave. in Madison, and another 350 around the country.