goPuff: $380 Million Funding And $3.9 Billion Valuation

By Amit Chowdhry ● October 11, 2020
  • goPuff — a go-to solution for immediate everyday needs — announced it has raised $380 million in a new round of funding. This funding round values goPuff at $3.9 billion.

goPuff — a go-to solution for immediate everyday needs — announced it has raised $380 million in a new round of funding to accelerate its geographic expansion, product category offerings, and investment in talent. This round of funding — which values the company at $3.9 billion — was led by existing investor, Accel, and D1 Capital Partners with participation from Luxor Capital and SoftBank Vision Fund.

Currently, goPuff has operations in over 500 U.S. cities, utilizing its network of over 200 micro-fulfillment centers to complete customer orders — which are delivered in 30 minutes or less. And goPuff continues to further expand its product categories to include a greater selection of baby and pet products and over-the-counter medications along with local favorites. Through a vertically integrated model, goPuff is able to quickly add new products like those in its newest cooking, baking and grocery categories, thus ensuring the company is able to meet customers’ every need.

In addition to broadening its product inventory, goPuff is expanding in both new and existing markets. And over the last 18 months, the company has more than tripled the number of cities it serves, including recent launches in major metropolitan areas such as Dallas, Miami, Detroit, Minneapolis, and Houston.

goPuff also announced several major hires for its executive leadership team. Jocelyn Wong (former Chief Marketing Officer at Lowe’s) has joined as goPuff’s first Chief Customer Officer. And goPuff has added two consumer technology industry veterans to its leadership team: Jonathan DiOrio (Uber’s former Global Head of FinTech and U.S. Business Development) has joined goPuff in the newly created role of Chief Business Officer and former TripAdvisor engineering executive Rekha Singh joined goPuff to serve as Vice President of Engineering.

KEY QUOTES:

“From day one, we have always been customer-first and continue to be excited about the impact we’re making on people’s lives by changing the way they get the products that they want and need.”

— Rafael Ilishayev, co-founder & co-CEO of goPuff.

“We’ve come a long way, but we’re also just getting started. This investment accelerates our ability to achieve our vision of becoming the world’s go-to solution for immediate everyday needs.”

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

“goPuff’s vertically integrated model and differentiated approach have created a superior customer experience and industry-leading unit economics. We believe strongly in their vision and capacity to become the fastest and best delivery service for everyday needs.”

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

“Accel first invested in goPuff in 2018 because of the team’s visionary approach to on-demand delivery and its commitment to building the infrastructure needed to create its unique, vertically integrated model. Because of goPuff’s focused approach, they have consistently delivered some of the best unit economics we’ve seen, while growing nationwide. We’re thrilled to remain a committed partner to Yakir, Rafael and the rest of the goPuff team on their journey.”

— Ryan Sweeney, Partner at Accel