Gopuff, the U.S delivery startup, has completed a fundraising round and put $1 billion into its coffers, propelling the company to a $15 billion valuation.
Blackstone’s Horizon platform, Guggenheim Investments, Hedosophia, and Softbank Vision Fund 1 all bought into the company. Existing investors including Fidelity Management and Research Company, MSD Partners, Adage Capital, Atreides Management and Eldridge participated.
Founded in 2013 by co-founders and co-CEOs Rafael Ilishayev and Yakir Gola, the company delivers items like food, alcohol, and medicines at a $1.95 flat delivery charge and currently operates in North America and Britain with over 450 areas of service.
The new capital comes after the firm’s previous fundraising at $1.15 billion in March, which valued the company at $8.9 billion. Since then, it has made many strategic moves and a range of acquisitions.
In May, not only did it partner with Uber Technologies Inc to expand the delivery of essential items during the COVID-19 pandemic, but the company also acquired the United Kingdom-based delivery platform Fancy to go throughout England.
in addition, Gopuff acquired Kentucky-based spirits, wine, and beer chain Liquor Barn with the integration of 23 stores into its network after its acquisition with the California-based alcohol retailer BevMo!, which helped to speed up the Philly startup’s foray into the West Coast by adding 161 stores across California, Arizona, and Washington to the platform.
Early this month, the Philadelphia-based company introduced a category, Gopuff Kitchen, operating a mobile kitchen near its micro-fulfillment centers for customers to order hot, prepared foods like pizza, chicken tenders, and breakfast sandwiches.
“We look forward to continuing to enhance the customer experience and to bring the magic of Gopuff to new customers around the world,” the CEO of Gopuff commented.
According to Gopuff, the new funds will be used in expanding its services in North America, the UK, and across Europe as well as for hiring and making investments in technology to improve the quality of user experience.