Instacart Announces $265 Million in New Funding Led By Existing Investor (Mar. 2, 2021)

Summary

A company-updates blog post from Instacart dated March 2, 2021, announcing that Instacart has raised $265 million as part of a new financing round from existing investors. The investors named are Andreessen Horowitz, Sequoia Capital, D1 Capital Partners, Fidelity Management & Research Company LLC, and T. Rowe Price Associates, Inc. The post states that the announcement increases the company's valuation to $39 billion. It says Instacart added more than 200 new retailers and more than 15,000 new store locations in 2020, and that it expects to increase its corporate headcount by 50% in the first half of 2021.

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Company Updates

Instacart Announces $265 Million in New Funding Led By Existing Investor

We’re pleased today to announce that Instacart has raised $265 million as part of a new financing round from existing investors including Andreessen Horowitz, Sequoia Capital, D1 Capital Partners, Fidelity Management & Research Company LLC, and T. Rowe Price Associates, Inc. Today’s announcement increases the company’s valuation to $39 billion.

Instacart today partners with nearly 600 national, regional and local retailers, including unique brand names, to offer delivery and pickup services from more than 45,000 stores to over 85% of U.S. households and 70% of Canadian households. In 2020, we added more than 200 new retailers and more than 15,000 new store locations to the Instacart marketplace. We’ve also expanded our same-day delivery and pickup offering across several new categories, including prescriptions and over-the-counter medications, office supplies, electronics, health, beauty and wellness, home decor, sports equipment, and more.

Today’s fundraising reflects the strength of Instacart’s business, the growth our teams have delivered, as well as the incredible opportunity ahead. This past year ushered in a new normal for millions of people and changed the way we shop for groceries and goods.

While grocery is the world’s largest retail category with an annual spend of $1.3 trillion in North America alone, the category is still in the early stages of its digital transformation. As online grocery penetration increases over the coming years, Instacart will continue to invest in our people, products and partners to support all of the communities we serve.

We expect to deploy this new capital in a number of ways, including increasing our corporate headcount by 50% in the first half of 2021, as well as further investing in several key areas such as the Instacart Marketplace, which connects customers and retailers; Instacart Advertising, which enables Consumer Packaged Goods (CPG) companies of all sizes to reach customers shopping online; and Instacart Enterprise, which supports the entire grocery ecosystem by offering end-to-end ecommerce solutions for retailers.

You can read more about today’s news here .

Instacart

Instacart is the leading online grocery platform in North America, partnering with more than 750 beloved national, regional and local retailers, including unique brand names, to deliver from more than 70,000 stores across more than 5,500 cities in North America. To read more Instacart posts, you can browse the company blog or search by keyword using the search bar at the top of the page.

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