Retail delivery service platform Gopuff announced that it has secured $1 billion in new funding at a $15 billion valuation.
Some of the world’s foremost technology investors participated in the round, including new investors Blackstone’s Horizon platform, Guggenheim Investments, Hedosophia, MSD Partners, and Adage Capital, along with existing investors Fidelity Management and Research Company, Softbank Vision Fund 1, 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, noting that Gopuff’s founders 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. We are thrilled to support this incredibly strong company and look forward to being part of Gopuff’s journey and continued expansion,” added Minerd.
With the new funds, Gopuff will continue to accelerate its strategic business initiatives including further geographic expansion across North America, deeper expansion into the UK and across Europe, hiring top-tier local talent, and focusing on enhancing its technology to continue to deliver an exceptional customer experience.
“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,” said Gopuff Co-Founder and Co-CEO Rafael Ilishayev. “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.”
Since Gopuff’s last funding round in March, the company has made several strategic acquisitions and executed on growth objectives including global expansion, introducing new verticals, and enhancing its proprietary technology. This includes:
- Acquisition of Fancy, a UK-based last-mile delivery platform that gets consumers their groceries and daily essentials in minutes.
- Launch of Gopuff Kitchen, a new offering that brings made-to-order hot and fresh food to customers alongside everyday essentials.
- Acquisition of rideOS, an enterprise start-up that builds cutting-edge proprietary technology for advanced routing, on-demand dispatch and fleet optimization.
- Integration of BevMo! with Gopuff, expanding the assortment for customers, accelerating Gopuff’s footprint in California, and bringing Gopuff’s customer-focused technology to existing BevMo! customers.
“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,” said Yakir Gola, co-founder and co-CEO of Gopuff. “We look forward to continuing to enhance the customer experience and to bring the magic of Gopuff to new customers around the world.”
With micro-fulfillment centers in every market it serves, Gopuff delivers thousands of products quickly for a flat $1.95 delivery charge. Gopuff is open 24/7 in many markets and late night everywhere else to bring customers what they need, when they need it most.
Gopuff currently operates more than 450 sites across North America and the UK, including more than 285-plus micro-fulfillment centers and 185-plus recently acquired BevMo! and Liquor Barn locations.