Instacart, a San Francisco, CA-based on-demand grocery delivery service, closed its $350M Series E financing.
The round, which brings Instacart’s valuation to $4.35B, was led by Coatue Management, with participation from Glade Brook Capital and existing investors.
The company, which has raised over $1B since its founding in 2012, intends to use the funds to double the size of the team, continue to expand its presence across North America, and investing in new products and services.
Founded in San Francisco in 2012, Instacart enables customers to use the website or app to fill their virtual shopping cart with items from their favorite, local stores and delivers them home. The company has scaled to over 220 markets and partnered with retailers across North America, including national chains (Albertsons, Kroger, Costco, Loblaw) as well as local, regional grocers (Publix, Wegmans, Schnucks, H-E-B).