US-based on-demand consumer delivery service GoPuff picked up $1bn in a funding round backed by telecoms conglomerate SoftBank’s Vision Fund 1 on Friday.
Blackstone’s Horizon platform, Guggenheim Investments, Hedosophia, MSD Partners, Adage Capital, Fidelity Management and Research Company, Atreides Management and Eldridge filled out the investor line-up. The round valued GoPuff at $15bn, up from $8.9bn in March.
Founded in 2013, GoPuff operates an e-commerce platform for consumers to purchase items such as cleaning products, over-the-counter drugs, pet food or alcohol. It claims to deliver goods “within minutes”, using a network of micro-fulfilment centres in every market it serves.
The latest cash injection will allow GoPuff to accelerate its expansion across North America, and European markets such as the UK. The company will also recruit additional staff and enhance its technology.
GoPuff collected $1.15bn in a funding round backed by SoftBank’s Vision Fund 1 in March 2021, when Fidelity, Luxor Capital, D1 Capital Partners, Baillie Gifford, Eldridge and Reinvent Capital also invested.
SoftBank backed a $380m round co-led by D1 Capital Partners and Accel in October 2020. The corporate had led a $750m round in 2019, when Accel also participated.
GoPuff’s earlier investors include Anthos Capital and E.ventures.
