US-based upscale online grocery Good Eggs received $100m in funding yesterday from investors including food service provider Rich’s and GV, a corporate venturing subsidiary of internet and technology group Alphabet.
Alternative asset management firm Glade Brook Capital Partners led the round, which also featured Tao Invest, Finistere Ventures, Benchmark, Index Ventures, S2G, DNS Capital and Obvious Ventures. The company has now raised more than $196m since it was founded in 2011.
Good Eggs’ online platform sells farm-fresh produce in addition to groceries, prepared food, meal kits, flowers and alcohol, offering same-day delivery to a customer base in San Francisco’s Bay Area.
The capital will support the bolstering of Good Eggs’ customer experience capabilities as well as a planned expansion into Southern California. It has also hired Vineet Mehra as chief growth and customer experience officer.
Bentley Hall, Good Eggs’ chief executive, said: “2020 was a transformational year for Good Eggs. We have spent more than a decade building an enduring foundation while also keeping our community of customers and producers gratified.
“The support from our investors in this round, and the addition of exceptional executive talent like Vineet Mehra, validates the enormous potential of this opportunity and our increasing momentum.
“We are excited to establish our roots in Southern California, further expand our assortment and launch a number of improvements to our service soon.”
Benchmark led the company’s last round, a $50m series C in 2018 that included Index Ventures, Obvious Ventures, S2G Ventures, DNS Capital, Uprising and Collaborative Fund.
Index Ventures had led a $15m series B round for Good Eggs in 2016 that included S2G Ventures and Obvious Ventures, two years after it had led a $21m round for the company.
Sequoia Capital, Harrison Metal, Collaborative Fund and angel investor Max Ventilla were among the participants in an $8.5m series A round in 2013 that took the company’s overall funding to $10.5m.
Photo courtesy of Good Eggs, Inc.
