The funding comes just a few months after Gopuff raised $1.1 billion at a company valuation of $8.9 billion in March. Gopuff’s astronomical rise in value is thanks in part to the company’s ability to fulfill pandemic-related shopper behaviors. The consumer goods micro-fulfillment company has been rapidly expanding and adding new categories to deliver everyday essentials and grocery items to customers who are increasingly ordering their groceries and other items online.
The latest round of funding comes from some of the world’s foremost technology investors, including new investors Blackstone’s Horizon platform, Guggenheim Investments, Hedosophia, MSD Partner, and Adage Capital, as well as 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. “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. We are thrilled to support this incredibly strong company and look forward to being part of Gopuff’s journey and continued expansion.”
The new funding will go toward further expansion in North America, as well as Europe and the U.K. Gopuff also plans to hire more talent and enhance its technology. Gopuff made two recent acquisitions to improve its market position, including rideOS, an enterprise startup that builds technology for advanced routing, on-demand dispatch and fleet optimization, and Liquor Barn, a Kentucky-based independent chain of beer, wine and liquor stores. In addition, Gopuff has recently launched Gopuff Kitchen to deliver made-to-order hot meals and fresh foods.
“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,” Rafael Ilishayev, co-founder and co-CEO of Gopuff, said in a statement. “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.”