Instacart Receives $44M in Series B Funding

instacartInstacart, a San Francisco, Calif.-based on-demand grocery service, received $44m in Series B funding.

The round was led by Andreessen Horowitz with participation from existing investors Sequoia Capital, Khosla Ventures and Canaan Partners, as well as Box CEO Aaron Levie and Y Combinator President Sam Altman.

The company intends to use the funds for geographic growth, continued improvements to the customer experience and the proprietary technology, experimenting with new and innovative models for delivery.

Founded by Apoorva Mehta, Instacart offers a service that can shop and deliver groceries from multiple local stores within an hour via a crowdsourced labor force. Customers can choose from over 350,000 items from local grocery stores and large chains like Safeway, Whole Foods Market, Shaw’s, BJ’s Wholesale and Costco.
The company also offers Instacart Express – an annual membership that eliminates delivery fees for all orders of $35 or more. The cost is just $99.



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