Instacart, a San Francisco, CA-based same-day grocery delivery service, closed $200m in Series E financing.
The round, which valued the company at approximately $4.2 billion, was led by Coatue Management with participation from Glade Brook Capital Partners and existing investors.
The company will use the funds to continue to build the software, shopper support teams, and continue to grow sales for retailers & CPG partners.
Led by Apoorva Mehta, Founder & CEO, Instacart enables customers to select groceries through a web application from various retailers (including 7 of top 8 North American grocers) and have them delivered by a personal shopper.
Instacart has nearly 200 grocery partners and is now available to 70 million households across US and Canada.