Instacart, a US-based shopping delivery service backed by corporates Amazon, American Express and Comcast, has added $100m to a funding round now sized at $325m, Axios reported on Friday.
The additional capital was supplied by investment management firm T. Rowe Price and increased the company’s valuation post-money valuation to $13.8bn.
Founded in 2012, Instacart operates a grocery delivery service that enables customers to purchase goods from local stores through a mobile app. It has partnered approximately 400 retailers, covering a total of some 30,000 stores across the US and Canada.
The round’s first tranche was co-led by venture capital firms DST Global and General Catalyst, and also featured investment firm D1 Capital Partners. Instacart has raised approximately $2.2bn in funding to date.
American Express Ventures, the investment arm of payment services firm American Express, contributed to a $44m series B round for the company in 2014 alongside Andreessen Horowitz, Canaan Partners, Khosla Ventures, Sequoia Capital, Sam Altman and Aaron Levie.
Mass media group Comcast took part in Instacart’s $220m series C round in 2015 through its Comcast Ventures unit. The round was led by Kleiner Perkins Caufield & Byers and included Valiant Capital, Andreessen Horowitz, Khosla Ventures, Sequoia, Dragoneer Investment Group, Thrive Capital, Levie and Altman.
Grocery chain Whole Foods supplied $36m for Instacart in 2016 prior to its acquisition by e-commerce and internet group Amazon. The company’s subsequent investors also include Initialized Capital, FundersClub, Wellcome Trust, Y Combinator’s Continuity Fund, Tiger Global Management, Coatue Management and Glade Brooks Capital Partners.
Photo courtesy of Instacart.
