goPuff: $1.15 Billion Funding And $8.9 Billion Valuation

By Amit Chowdhry ● April 2, 2021
  • Digital delivery service goPuff recently announced it raised $1.15 billion in a new round of funding and an $8.9 billion valuation. These are the details.

Digital delivery service goPuff recently announced it raised $1.15 billion in a new round of funding and a $8.9 billion valuation. The investors in the round include D1 Capital Partners, Fidelity Management and Research Company, Baillie Gifford, Eldridge, Reinvent Capital, Luxor Capital, and SoftBank Vision Fund 1.

goPuff is uniquely positioned in growing its business as it advances its mission to become the world’s go-to solution for immediate, everyday needs. And with these new funds, goPuff will continue to accelerate its strategic priorities, which include geographic expansion across the U.S. and internationally, introducing new product categories, and investing in new technology and top-tier talent that will further enhance the customer experience.

goPuff is also going to continue to leverage its platform to enter new verticals and expand its thriving local partnership program. And this includes investing in innovative programs like its recently launched media offering, goPuff Marketing Solutions (GMS), which enables brands to run media campaigns on and off goPuff’s platform to instantly reach consumers and translate those interactions into purchases. Plus the company is launching new categories like goPuff’s new Better for You, Beauty, and enhanced Baby categories. And it also recently debuted Curated Mystery Boxes and it has introduced over 500 new local products to the platform to expand and enhance the customer experience.

Launched in 2013 by co-founders and co-CEOs Rafael Ilishayev and Yakir Gola, goPuff currently operates over 250 micro-fulfillment centers servicing over 650 U.S. cities, in addition to the recently acquired BevMo! locations.

KEY QUOTES:

“We are grateful for the confidence of our longtime returning partners as well as the new, top-tier institutions joining this round who understand our differentiation in the market. We look forward to their support as we accelerate our growth plans and continue to define and transform the instant needs space.”

— Rafael Ilishayev, co-founder and co-CEO of goPuff

“This milestone further validates the success of goPuff’s vertically integrated model as well as the massive global opportunity for the category. Our technology platform and infrastructure enable us to expand goPuff’s offerings while bringing more products, new categories, and experiences to customers.”

— Yakir Gola, co-founder and co-CEO of goPuff

“goPuff is truly in a league of its own. We believe that the company’s vision and differentiated model drive industry-leading economics and sustainable growth. Since we initially invested in goPuff last fall, we have been consistently impressed by the team’s ability to successfully execute against its growth plans. The company’s potential is tremendous, and we look forward to the unique opportunities that lie ahead.”

— Daniel Sundheim, Founder & Chief Investment Officer at D1 Capital Partners

“goPuff’s proven business model has yielded strong, sustainable results in growing and developing a new category of instant needs that it continues to define. We are thrilled to support goPuff as the company expands its market position and propels itself to new heights.”

— Chris Evdaimon, Investment Manager at Baillie Gifford