US-based groceries delivery service Instacart closed a $220m series C round on Tuesday featuring Comcast Ventures, the corporate venturing unit belonging to cable and telecommunications service provider Comcast.
Kleiner Perkins Caufield & Byers led the round, which also included Dragoneer Investment Group, Thrive Capital, Valiant Capital, Andreessen Horowitz, Khosla Ventures and Sequoia Capital. Comcast participated as a new investor.
Instacart provides a service that enables users to order groceries from a variety of stores through its app. The groceries are then delivered to their home on the same day by crowdsourced personal shoppers.
The round, raised at a $2bn valuation according to Bloomberg, will support the company’s growth from the 15 cities in which it now operates, as well as category expansion and the boosting of its technology base, chief executive Apoorva Mehta said in a statement.
Instacart has now received $275m in total funding, including $44m from a June 2014 series B round that valued it at about $400m. The company claimed this week that it increased revenue by ten times over the course of last year, doubling it in the fourth quarter.