Gopuff Secures $1B in Additional Funding
It’s go big and go home for Gopuff, which announced a new round of $1 billion in funding. This has been a year of high growth for the home delivery service startup, which is expanding across North America and Europe at a rapid clip.
The infusion of funds at a $15 billion valuation will allow the company to speed initiatives and ramp up talent and technology, leaders say.
“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,” said Rafael Ilishayev, co-founder and co-chief executive officer of Gopuff.
New investors include Blackstone’s Horizon platform, Guggenheim Investments, Hedosophia, MSD Partners and Adage Capital. Several existing vendors also participated in this most recent investment round, such as Fidelity Management and Research Co., Softbank Vision Fund, Atreides Management and Eldridge.
“Gopuff has quietly built a very strong business and solidified itself as the leading player, continuing to define this evolving category,” said Scott Minerd, global chief investment officer of Guggenheim Investments, praising the innovations of Ilishayev and Co-Founder and Co-CEO Yakir Gola. “Rafael and Yakir are focused on maintaining fiscal responsibility while having the ability to successfully execute on strategic growth opportunities. This measured approach along with Gopuff’s impressive offering has only just scratched the surface.”
The last major funding series for Gopuff came in March. Following that $1.15 billion addition, the company launched hot, fresh food delivery through its Gopuff Kitchen arm and made at least two acquisitions to improve its efficiencies.
Currently, Gopuff operates more than 450 sites across North America in the United Kingdom, including more than 285 micro-fulfillment centers and more than 185 recently-acquired BevMo! and Liquor Barn locations. Gopuff’s offerings include food and drinks, cleaning and home products, over-the-counter medications, and baby and pet products.
