Grocery delivery service Good Eggs is looking to make a comeback thanks to $50 million in new funding.
The company, founded in 2011, previously raised $15 million in funding.
But in 2015, Good Eggs had multiple rounds of layoffs, closed operations outside of San Francisco and hired Bentley Hall, an executive from Plum Organics and Clif Bar, as its new CEO, according to TechCrunch.
Now in 2018, the company is ready for “thoughtful, measured expansion.”
“We’ve dramatically transformed our business over the past two years. It began by recognizing we are a food company powered by technology and continued with a laser focus on our business fundamentals,” said Hall. “What hasn’t changed is our commitment to delivering absurdly fresh, high-quality products to our customers and making it effortless to eat well at home.”
The company now sells more than 1,000 products, and 70 percent of their offerings are locally sourced. Every item carried must meet a strict list of sourcing standards.
Good Eggs will use the funds to quadruple their capacity in the Bay Area and expand their delivery geography. They plan to launch operations in Southern California next year, and the combined expansion will result in the creation of more than 1,000 jobs.
The new funding was led by Benchmark, with additional participation from existing investors Index Ventures, Obvious Ventures, S2G Ventures, DNS Capital, Uprising and Collaborative Fund. Benchmark’s Bill Gurley is joining Good Eggs’ board of directors.
“Our team was deeply impressed by the operational discipline that Bentley and the team at Good Eggs have implemented to transform this business,” Gurley said in the funding announcement. “We made a study of what Good Eggs has achieved and believe the business is very well-positioned to capture and scale the growing market of people who are passionate about the quality and provenance of the food they consume. It’s a massive opportunity.”