Gopuff raises another $1 billion to support rapid growth

by uchimeshi

Gopuff announced Friday that it has raised $1 billion in new funding and is currently valued at $15 billion. This follows a comparable funding round of $8.9 billion to the immediate needs distribution company in March.

The funding round was driven by a global collection of new and existing investors, including Guggenheim Investments, Fidelity Management and SoftBank Vision Fund 1.

The funds will continue to support Gopuff’s rapid expansion in North America and Europe, helping it attract new talent as well as build its technology stack.

Gopuff is raising investment capital to match its high ambition to be a global leader in the emerging instant delivery business.

Since Gopuff announced its latest funding round in March, which raised $1.15 billion, it has acquired a UK grocery delivery company and a delivery tech startup, launched a fresh food division and integrated its recently acquired BevMo stores into its broader ecosystem. Last month, it announced the acquisition of its second liquor retailer.

With the most recent $1 billion raise, the company plans to expand further in North America, where it currently competes ahead of other express delivery firms descending into the Northeast. It also plans to fight in European markets where players like Gopuff, Gorillas, Getir and Jokr have a more established presence. In May, the company announced Acquired Fancy, a UK startup that delivers groceries and daily necessities in less than 30 minutes.

The company said it plans to invest in its global team as well. Several high-profile hires have been made recently, including former VP of Amazon Global Logistics Tim Collins, who is Gopuff’s senior vice president of operations.

Earlier this month, Gopuff confirmed news that it was launching its fresh food division, Gopuff Kitchen, following a pilot in its hometown of Philadelphia and cities in the southern United States. expansion of the new division.

In addition to fresh foods, Gopuff is focused on expanding its local product range with more than 1100 items currently on offer in its market.

Gopuff currently operates close to 300 small fulfillment centers in North America and the UK. podcast interview, the company’s co-founder Rafael Ilishayev said that Gopuff brings 30 microsites online per month. he noted Sites that have been open for 18 months or more are profitable, and building density in markets reduces lead times and increases profitability.

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