The delivery startup plans to utilise the funding for further expansion across North America, the UK and Europe
The funding round saw participation from some of the world’s major technology investors. (Credit: ElasticComputeFarm from Pixabay)
US-based consumer goods and food delivery startup Gopuff has raised $1bn in a new funding round that valued the company at $15bn.
The funding round saw participation from some of the world’s major technology investors.
Blackstone’s Horizon platform, Guggenheim Investments, Hedosophia, MSD Partners and Adage Capital are the new investors in the company.
Existing investors who have taken part in the financing round include Fidelity Management and Research Company, Softbank Vision Fund 1, Atreides Management and Eldridge.
Gopuff intends to utilise the proceeds for further expansion across North America, the UK and Europe.
It is also planning to use the funding for hiring and enhancing its technology to deliver an improved customer experience.
Gopuff co-founder and co-CEO Rafael Ilishayev said: “As Gopuff continues to define the Instant Needs economy, we are thrilled to have new leading global partners onboard, along with the support of our longtime investors.
“This funding round is further validation of the success of our model and will enable us to continue to do what we do best: deliver an unmatched customer experience.”
Founded in 2013, Gopuff is engaged in fulfilling customer orders of cleaning and home products, over-the-counter medications, baby and pet products, food and drinks.
It currently operates more than 450 sites across North America and the UK, including more than 285 micro-fulfilment centres. Recently, the company acquired over 185 BevMo! and Liquor Barn locations.
In March this year, Gopuff raised more than $1.1bn funding from D1 Capital Partners, Fidelity Management and Research Company, Baillie Gifford, Eldridge, and others.
Following that funding round, the company has made several strategic acquisitions and introduced new verticals.
The acquisitions include UK-based last-mile delivery platform Fancy and rideOS, an enterprise start-up that develops technology for advanced routing, on-demand dispatch and fleet optimisation.
Gopuff co-founder and co-CEO Yakir Gola said: “We have truly doubled down on our key business priorities, accelerating our geographic expansion by entering new markets in the US and abroad, innovating for our customers, and continuing to invest heavily in our technology, our people, and our partners.
“We look forward to continuing to enhance the customer experience and to bring the magic of Gopuff to new customers around the world.”