US delivery start-up GoPuff has raised $380 million in funding, as it aims to further accelerate its geographic expansion and product offerings.
The round, which values the company at $3.9 billion, was led by existing investor, Accel, and D1 Capital Partners with participation from Luxor Capital and SoftBank Vision Fund.
Founded in 2013, GoPuff currently has operations in more than 500 US cities, leveraging its network of over 200 micro-fulfilment centres to complete its customer orders.
The company offers food, home essentials and alcohol for on-demand delivery, which it claims will take 30 minutes or less. Its has also expanded into product categories such as baby food, pet food and over-the-counter medication.
In addition to broadening its product offerings, GoPuff says it is significantly expanding in both new and existing markets. Over the last 18 months, the company has more than tripled the number of cities it serves.
“GoPuff’s vertically integrated model and differentiated approach have created a superior customer experience and industry-leading unit economics. We believe strongly in their vision and capacity to become the fastest and best delivery service for everyday needs,” said Daniel Sundheim, founder and chief investment officer at D1 Capital Partners.
Yakir Gola, co-founder and co-CEO of GoPuff, added: “We’ve come a long way, but we’re also just getting started. This investment accelerates our ability to achieve our vision of becoming the world’s go-to solution for immediate everyday needs.”
Following the round, GoPuff has announced the appointment of three new executives. Jocelyn Wong, former CMO at Lowe’s, will join the leadership team as the first chief customer officer; while Jonathan DiOrio –Uber’s former global head of FinTech and US business development –will take on the newly-created role as chief business officer. Former TripAdvisor engineering executive, Rekha Singh, will take up the position of VP of engineering.
© FoodBev Media Ltd 2019