- Gopuff announced Friday that it has raised $1 billion in new funding and is now valued at $15 billion. This follows a comparable funding round in March that valued the instant-needs delivery company at $8.9 billion.
- 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 fuel Gopuff's rapid expansion across North America and Europe, and help it attract new talent as well as build out its technology stack.
Gopuff is amassing investment capital to match its lofty ambition of becoming a global leader in the emerging instant-needs delivery business.
Since announcing its last funding round in March, which raised $1.15 billion, Gopuff has acquired a grocery delivery firm in the U.K., as well as a delivery technology startup, launched a fresh meals division and integrated its recently acquired BevMo stores into its broader ecosystem. Last month, it announced the acquisition of its second liquor retailer.
With its newest $1 billion raise, the company plans to expand further in North America, where it has raced ahead of other fast-delivery firms now making landfall in the Northeast. At the same time, Gopuff plans to battle in European markets where players like Gorillas, Getir and Jokr have more of an established presence. In May, the company announced it acquired Fancy, a U.K. startup that delivers groceries and daily essentials in under 30 minutes.
The company said it plans to also invest in its global team. It's made a few high-profile hires recently, including former Amazon Vice President of Global Logistics Tim Collins, who is now Gopuff's senior vice president of operations.
Earlier this month, Gopuff confirmed news it's launching a fresh meals division, Gopuff Kitchen, following a pilot rollout in its Philadelphia hometown and in cities across the southern U.S. It acquired app-based coffee provider Bandit and hired that company's co-founder to drive the expansion of the new division.
In addition to fresh foods, Gopuff is focused on expanding its assortment of local products, with more than 1,100 of these items currently offered through its marketplace.
Gopuff currently operates close to 300 small fulfillment centers in North America and the U.K. In a podcast interview, company co-founder Rafael Ilishayev said Gopuff is bringing 30 micro sites online per month. He noted that sites that have been open 18 months or longer are profitable and that building density in markets reduces delivery times and increases profitability.