SECTION 01TAM · SAM · SOM
Bottom-up, not a top-down fantasy
We don't need a large share of a huge number. We need a credible share of a specific number — then the software expands the denominator.
TAM
US foodservice distribution $382B
The full market our buyers purchase within — the outer bound of what sourcing software could touch in foodservice alone.
SOURCE: IFDA / TECHNOMIC INDUSTRY ESTIMATE, 2023–24
SAM
+ Adjacent distribution categories ~$250B
Jan-san, flexible packaging, PPE, and MRO supplies the same software addresses once the ledger is proven — the realistic serviceable market as the product expands beyond food.
SOURCE: SEE EXPANSION TABLE, §3 · SUM OF US CATEGORY ESTIMATES
WEDGE
US foodservice disposables & packaging $15–18B
The entry category: containers, cups, lids, cutlery, bags, gloves. Semi-structured, private-label heavy, reorder-driven — built for an extraction-and-matching machine.
SOURCE: GRAND VIEW RESEARCH 2024 ($15.5B) · MORDOR INTELLIGENCE 2025 · RANGES BY DEFINITION
SOM · Y5
Gigabite Y5 GMV $2.0B
~11–13% of the disposables wedge, or ~2–3% of the served market once expansion categories are live. A share we win category by category, not all at once.
GIGABITE PLANNING TARGET · SEE SANITY CHECK BELOW
SECTION 02THE WEDGE, SIZED
Where sources agree — and where they don't
| SOURCE | SCOPE | SIZE | CAGR |
|---|
| Grand View Research, 2024 | US foodservice disposables | $15.5B | 4.0% |
| Mordor Intelligence, 2025 | US foodservice packaging | ~$19B | 5.4% |
| Fortune Business Insights, 2024 | US foodservice disposables | ~$17B | 4.7% |
| Research & Markets, 2024 | US foodservice disposables (broad) | ~$31B | 5.1% |
| → Planning figure used | Conservative core wedge | $15–18B | ~5% |
Definitions differ — "disposables" vs "packaging," foodservice-only vs including retail takeout — which is why the range runs $15B to $31B. We plan against the conservative end and treat the upside as optionality, not assumption.
SECTION 03EXPANSION — WHY SOFTWARE, NOT FOODSERVICE
The same ledger runs every one of these
Each category is the same problem — messy specs, private-label substitution, landed-cost opacity, net terms. Proving it once in disposables makes each next category a catalog-onboarding exercise, not a new company.
| EXPANSION CATEGORY (US) | MARKET SIZE | CAGR | SOURCE |
|---|
| Janitorial & sanitation (jan-san) supplies | ~$31B | 4.6% | Freedonia / ISSA, 2024 |
| Flexible packaging | ~$40B | 3.8% | Mordor Intelligence, 2025 |
| PPE distribution | ~$45B | 6.5% | Grand View Research, 2024 |
| MRO & industrial supplies (addressable slice) | ~$130B | 3.4% | Industrial Distribution / IBISWorld, 2024 |
| → Expansion SAM added beyond the wedge | ~$250B | — | Sum, US |
The strategic point: a buyer who trusts the ledger for cups will run gloves, film, and cleaning chemicals through it too. Expansion revenue is land-and-expand inside existing accounts — the cheapest growth there is.
SECTION 04THE SOFTWARE & FINTECH TAM
Two more markets the platform monetizes directly
PROCUREMENT SOFTWARE$10.1B → $21.3B
Global, 2025 → 2033 at 10.0% CAGR. North America is 35% of it. This is the seat the software line competes for directly.
GRAND VIEW RESEARCH, 2026
B2B PAYMENTS / EMBEDDED FINANCE$1T+ flows
US B2B payments clear trillions annually; embedded trade-credit is growing double digits. The fintech line taxes the payment rail we already sit on.
MULTIPLE, 2024–25
This is why the pitch is a software company, not a foodservice distributor: the take-rate wedge proves the ledger, and the software and fintech TAMs are where multiples live.
SECTION 05COMPETITIVE LANDSCAPE
Everyone owns a piece. Nobody owns the ledger.
HORIZONTAL PROCUREMENT / SOURCE-TO-PAY
Coupa~$8B take-private, 2023
Zip$2.2B val · $190M Series D, 2024
SAP Ariba · GEP · Jaggaerenterprise incumbents
Levelpath$55M Series B, 2024
FOODSERVICE B2B ORDERING
Choco$3.5B val · AI ordering
Cut+Drydistributor storefronts
Rekki · Notch · Pepperorder rails, not sourcing
B2B MARKETPLACES
WebstaurantStore~$3.5B rev · e-commerce
Amazon Business~$35B GMV · horizontal
Fairegeneral wholesale
EMBEDDED B2B FINANCE (BENCHMARKS)
Slope · Balancenet-terms infra
Resolve · TreviPaytrade credit at scale
DISTRIBUTOR INCUMBENTS
Bunzl~$15B rev · closest analog
Sysco · US Foodsbroadline, private label
Imperial Dade · Veritivdisposables / packaging
GIGABITE — THE EMPTY SEAT
Vertical ledgerevidence-backed truth
Attribute equivalencycross-supplier
Landed-cost + net termson one rail
Data moatcompounds per txn
Bunzl is the tell: a ~$15B-revenue distributor built entirely on foodservice disposables and jan-san consolidation proves the category's size and margin. Gigabite is the software-native version of that thesis — the intelligence layer Bunzl never built, sold to everyone Bunzl competes with.
SECTION 06WHY NOW
The tariff cliff is a sourcing event
A large share of US foodservice disposables is imported. Section 301 tariff exclusions on many Chinese goods are set to lapse in November 2026 — a step-change in landed cost that makes cross-supplier, landed-cost-aware sourcing urgent rather than nice-to-have.
CATALYSTNov 2026 exclusion cliff
Tariff exclusions lapse; landed costs jump overnight for buyers still sourcing on habit. The savings report writes itself.
TAILWINDPrivate-label push
Operators and distributors expanding private label to defend margin — exactly where equivalency and landed-cost truth matter most.
ENABLERDocument AI crossed the line
Multimodal extraction is finally reliable enough to staff a real pipeline behind validation and review.
SECTION 07SANITY CHECK & THRESHOLDS
Where the plan breaks — stated plainly
The $2.0B GMV check HONEST
- $2.0B is ~11–13% of the $15–18B disposables wedge — high for one category alone
- It only holds if expansion categories (jan-san, packaging, PPE) are live and contributing by Y3–Y4
- Against the ~$250B served market with expansion, $2.0B is ~2–3% — very defensible
- Conclusion: the number depends on the expansion thesis, not on dominating foodservice
Thresholds that change the plan PRE-COMMITTED
- If expansion slips past Y3, Y5 GMV target cuts to ~$1.0–1.2B — single-category realistic
- If realized savings land at the bottom of the 7–10% range, the pitch leads with working capital + compliance, not just price
- If take rate compresses below 3%, the fintech line carries more of the Y5 mix
- Every one of these is visible at a gate before capital is committed against it
On savings: consulting benchmarks put strategic-sourcing savings at 7–10% typically, higher on tariff-exposed SKUs — the range this plan quotes throughout. The value proposition holds regardless: evidence-backed savings plus auditability plus financed terms is a three-legged pitch, not a bet on price alone.