Instacart scoops another $350m in funding
US-based online grocery delivery company Instacart has secured $350m from its Series E financing round.
Coatue Management led the round, with participation from Glade Brook Capital and existing investors.
In a statement issued yesterday (5 April), Instacart said that this takes the company’s valuation to $4.35bn.
Instacart added: “The financing comes on the heels of a period of accelerating growth for Instacart, expanding across North America and partnering with the eight largest grocers in North America including Kroger, Albertsons, Publix, Costco, Ahold-Delhaize, HEB, Loblaw, and Sam’s Club. With the closing of this opportunistic round of funding, Instacart has raised over $1B since its founding in 2012, with the vast majority of this capital still in the bank.”
Ravi Gupta, COO/CFO of Instacart, commented: “The online grocery market hit a tipping point last year, as more and more consumers demanded grocery delivery. We are excited to accelerate our plans to bring online grocery everywhere and to keep transforming the way people shop.”
