- Gopuff — a go-to platform for consumers’ immediate everyday needs — announced it raised $1 billion in new funding at a $15 billion valuation. These are the details.
Gopuff — a go-to platform for consumers’ immediate everyday needs — announced it raised $1 billion in new funding at a $15 billion valuation. Blackstone’s Horizon platform, Guggenheim Investments, Hedosophia, MSD Partners, and Adage Capital, and existing investors Fidelity Management and Research Company, Softbank Vision Fund 1, Atreides Management, and Eldridge invested in this round.
With the new funds, Gopuff will continue to accelerate its strategic business initiatives including further geographic expansion across North America, deeper expansion into the UK and across Europe, hiring local talent, and focusing on enhancing its technology to continue to deliver an exceptional customer experience.
Since Gopuff’s last funding round in March, the company had made several strategic acquisitions and executed on growth objectives including global expansion, introducing new verticals, and enhancing its proprietary technology. Some examples include
1.) Acquisition of Fancy, a UK-based last-mile delivery platform that gets consumers their groceries and daily essentials in minutes.
2.) Launch of Gopuff Kitchen, a new offering that brings made-to-order hot and fresh food to customers alongside everyday essentials.
3.) Acquisition of rideOS, an enterprise start-up that builds cutting-edge proprietary technology for advanced routing, on-demand dispatch and fleet optimization.
4.) Integration of BevMo! with Gopuff, expanding the assortment for customers, accelerating Gopuff’s footprint in California, and bringing Gopuff’s customer-focused technology to existing BevMo! customers.
KEY QUOTES:
“Gopuff has quietly built a very strong business and solidified itself as the leading player, continuing to define this evolving category. 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.”
— Scott Minerd, Global Chief Investment Officer of Guggenheim Investments
“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. 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.”
— Rafael Ilishayev, co-founder and co-CEO of Gopuff
“We have truly doubled down on our key business priorities, accelerating our geographic expansion by entering new markets in the US and abroad, innovating for our customers, and continuing to invest heavily in our technology, our people, and our partners. We look forward to continuing to enhance the customer experience and to bring the magic of Gopuff to new customers around the world.”
— Yakir Gola, co-founder and co-CEO of Gopuff
