Instacart, a San Francisco, CA-based grociery delivery company, raises $400m in a Series D financing.
The round was led by Sequoia Capital with participation from Wellcome Trust, Y Combinator Continuity, Andreessen Horowitz, FundersClub, Khosla Ventures, Kleiner Perkins Caufield & Byers (KPCB), Initialized Capital, Thrive Capital and Valiant Capital.
The company intends to use the funds to continue to develop its platform and expand in additional markets.
Co-founded in June 2012 by Brandon Leonardo, Apoorva Mehta, and Max Mullen, Instacart provides a service for people to choose, pay and receive their grocieries home through an iOS and Android app and a website.
The company, which is now present in 35 markets, aims to expand its geographic presence to 60 markets or more in 2017. Its retailer roster now has over 135 partners, including the top grocers in the country like H.E.B, Whole Foods Market, Costco, and Supervalu who own Cub Foods.
Working with over 160 CPG industry partners, including Nestle, P&G, Unilever, General Mills, Coca-Cola and Pepsico, Instacart also offers deals and discounts for customers.
FinSMEs
09/03/2017