Instacart is pleased today to announce that the company has raised $200 million as part of a new financing round from existing investors Valiant Peregrine Fund and D1 Capital Partners. This announcement increases the company’s valuation to $17.7 billion.
COVID-19 has forever changed the way people shop for their groceries and goods and, as a result, Instacart has gone from a convenience to a lifeline for millions of people. Today’s investment comes as consumer demand for Instacart’s service continues to grow and we continue to expand our marketplace with new and existing retail partners. We now partner with more than 500 retailers and deliver from nearly 40,000 store locations across the U.S. and Canada.
We expect to deploy the new capital in a number of ways, including: product development focused on introducing new features and tools to enhance the customer experience, continued investment in Instacart Enterprise to support retailers’ end-to-end ecommerce needs, and further investment in Instacart Ads to help connect Consumer Packaged Goods (CPG) brands of all sizes to customers shopping online from their favorite local retailers.
Going forward, our teams remain relentlessly focused on building the absolute best online grocery shopping experience, while partnering with iconic retailers to offer more selection and value to customers across North America.
