Instacart, a San Francisco, CA-based grocery delivery company, raised $600m in funding.
The round, which raised the company’s valuation to $7.6 billion, was led by D1 Capital Partners.
The company intends to use the funds to further expand in North America, increase its marketing investments and recruit engineering and product development talent.
Led by Apoorva Mehta, CEO and Founder, Instacart is a same-day delivery service that brings everyday essentials and fresh groceries from more than 300 retailers and local grocers to consumers in the U.S. and Canada in as fast as an hour. It also offers an Express Membership program, giving customers unlimited free delivery from available stores on orders over $35.
The company serves more than 15,000 different grocery stores across 4,000 cities with a dedicated community of 50,000 shoppers. It has partnered with national and regional retailers such as Albertsons, Costco, CVS, Kroger, Loblaw, Publix, Wegmans and Sam’s Club, among others.
To-date, Instacart has raised more than $1.6 billion in funding and has 600 full-time employees across North America.
FinSMEs
16/10/2018