With $1.15 Billion In New Funding, Delivery Upstart Gopuff Eyes Expansion

Delivery company Gopuff said today that it has raised $1.15 billion in new funding. With the new funding, goPuff will accelerate work on its strategic priorities — which include expanding “across the U.S. and internationally, introducing new product categories, and investing in top-tier talent and new technology” to better serve customers, a press release said.

The new funds push Gopuff’s valuation to $8.9 billion, the release added. The company said that investors in the latest funding round include D1 Capital Partners, Fidelity Management and Research Co., Baillie Gifford, Eldridge, Reinvent Capital, Luxor Capital and SoftBank Vision Fund 1.

The new funding “validates” the success of Gopuff and the progress it has made, said Yakir Gola, the company’s co-founder and co-CEO. “Our technology platform and infrastructure enable us to expand Gopuff’s offerings,” adding more products and new categories, he said.

Daniel Sundheim, founder and chief investment officer at D1 Capital Partners, said that since his firm “invested in Gopuff last fall, we have been consistently impressed by the team’s ability to successfully execute against its growth plans. The company’s potential is tremendous.”

What Gopuff offers: a service that aims to bring everyday items to the customer, any time of the day or night. The company was founded by Gola and Rafael Ilishayev in 2013 while both were still students at Drexel University.

Gopuff doesn’t physically visit convenience stores and bring the offerings to the customer. The company said it warehouses goods and delivers them on demand to customers’ doors within 30 minutes of an online or mobile app order.

The latest news release said that Gopuff has put together a network of more than 250 “micro-fulfillment centers” and 161 BevMo stores at sites across the United States. The company said it delivers to customers in hundreds of cities in 41 states and Washington, D.C.

The company said Gopuff’s mission is to become the “go-to solution for immediate, everyday needs.”