US – goPuff, a rapidly growing grocery delivery startup in the US, has raised US$1.15 billion in new funding, as it looks to become the world’s go-to solution for immediate everyday needs.
Investors in the round include D1 Capital Partners, Fidelity Management and Research Company, Baillie Gifford, Eldridge, Reinvent Capital, Luxor Capital and SoftBank Vision Fund 1.
The new funding comes on the heels of its US$380 million funding round, which valued the company at US$3.9 billion.
According to a statement by the grocery delivery startup, the latest funding round doubles valuation to US$8.9 billion in just five months.
Founded in 2013, GoPuff operates out of more than 250 micro-fulfillment centers servicing over 650 US cities, in addition to the recently acquired BevMo! locations.
The company is open 24/7 in many markets, as it looks to fulfil customer orders of food and drinks, as well as cleaning and home products.
With these new funds, goPuff will continue to accelerate its strategic priorities, which include geographic expansion across the U.S. and internationally.
The company also plans to introduce new product categories, invest in new technology, and enlist top-tier talent that will further enhance the customer experience.
Rafael Ilishayev, co-founder and co-CEO of GoPuff said: “We are grateful for the confidence of our long-time returning partners as well as the new, top-tier institutions joining this round who understand our differentiation in the market.
We look forward to their support as we accelerate our growth plans and continue to define and transform the instant needs space.”
goPuff also plans to continue to leverage its platform to enter new verticals and expand its thriving local partnership program.
This includes investing in innovative programs like its recently launched media offering, goPuff Marketing Solutions (GMS), which enables brands to run media campaigns on and off goPuff’s platform to instantly reach consumers and translate those interactions into purchases.
Additionally, the company is launching new categories, like goPuff’s new Better for You, Beauty and enhanced Baby categories.
It also recently debuted Curated Mystery Boxes and has introduced over 500 new local products to the platform to expand and enhance the customer experience.
Chris Evdaimon, investment manager at Baillie Gifford, said: “GoPuff’s proven business model has yielded strong, sustainable results in growing and developing a new category of instant needs that it continues to define.
We are thrilled to support GoPuff as the company expands its market position and propels itself to new heights.”
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