Grocery delivery operation Instacart has dropped another $100 million in Series C funding into its shopping cart, bringing its current valuation to more than $2 billion, reported TechCrunch. To put that into context, that’s five times its valuation from six months ago.
The latest cash hauled in—paper or plastic? Nah, I’ll take greenbacks—includes $154.8 million raised from Andreessen Horowitz, Sequoia, Khosla Ventures, Canaan Partners, Y Combinator boss Sam Altman and Box founder Aaron Levie and Kleiner Perkins, among others, the story said.
“Instacart launched two years ago to become the Uber of grocery delivery. Users choose a grocery store, shop for items, and get on-demand delivery of those items within an hour, either from their phones or the company’s website,” TechCrunch noted. “It’s an idea that has caught on with consumers, and Instacart has been growing rapidly over the last year. As of June 2014, Instacart was operational in 10 cities across the United States, showing 15x revenue growth. Given two huge cash infusions and the spiked valuation, it’s fair to imagine it will continue to grow aggressively.”
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