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07/23/2021

Gopuff to Raise $1B with $15B Valuation

Gopuff, the instant needs micro-fulfillment and delivery company, is aiming to raise $1 billion in a funding round that would bring the company’s valuation up to $15 billion.
gopuff app

The funding news was reported by TechCrunch, which cited documents uncovered by Prime Unicorn Index. However, the documents filed by Gopuff may not tell the whole story, and the company may raise more or less funds by the time the round closes. Altogether, Gopuff’s recent funding totals $2.5 billion in three funding rounds over the last 10 months, TechCrunch reported. 

That’s astonishing growth for any company. Gopuff has benefitted from a number of COVID-19 pandemic consumer behavior trends, including more home delivery of groceries and everyday essentials. Gopuff has been ramping up its product categories, adding new geographies and improving its delivery services and technology to fulfill orders even faster as competition in the space heats up.

The funding is the latest financial move for Gopuff, which already doubled its valuation this year--to $8.9 billion--when it raised $1.15 billion in March. The company has also made a handful of acquisitions over the last few months to ramp up its growth, 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.

More recently, Gopuff launched Gopuff Kitchen to deliver hot, made-to-order meals to customers on its platform. The new service will be available to customers alongside its everyday essentials, will offer breakfast, lunch, dinner and late-night food to its customers for a flat delivery fee of $1.95.