US-based consumer product delivery service GoPuff secured $380m yesterday from investors including telecommunications and internet group SoftBank’s Vision Fund at a valuation of $3.9bn.
Venture capital firm Accel and investment firm D1 Capital Partners co-led the round, which was also backed by hedge fund Luxor Capital.
GoPuff’s online platform allows customers to order thousands of products from food and drink, including alcohol, to over-the-counter medication and home products that are available for delivery in under 30 minutes with a flat delivery fee of $1.95 per order.
Orders can be fulfilled rapidly through a network of 200 micro-fulfilment centres the company runs across more than 500 cities. The funding will support the expansion of GoPuff’s product range, which now includes groceries, cooking and baking goods.
Vision Fund led a $750m round for the company in August 2019 that also featured venture capital firm Accel, according to a report in January this year.
GoPuff had raised an undisclosed amount in late 2018 at a $1bn valuation, following $8.25m from investment firm Anthos Capital the previous year, and VC firm E.ventures is also among the company’s earlier backers.
Yakir Gola, co-founder and co-chief executive of GoPuff, said: “We have come a long way, but we are also just getting started. This investment accelerates our ability to achieve our vision of becoming the world’s go-to solution for immediate everyday needs.”
