Instacart Announces New Funding from Valiant Peregrine Fund and D1 Capital Partners (Oct. 8, 2020)

Summary

A company-updates blog post from Instacart dated October 8, 2020, announcing that the company has raised $200 million as part of a new financing round from existing investors Valiant Peregrine Fund and D1 Capital Partners. The post states that the announcement increases the company's valuation to $17.7 billion. It says Instacart now partners with more than 500 retailers and delivers from nearly 40,000 store locations across the U.S. and Canada. It lists planned uses of the new capital: product development, continued investment in Instacart Enterprise, and further investment in Instacart Ads.

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Company Updates

Instacart Announces New Funding from Valiant Peregrine Fund and D1 Capital Partners

Instacart is pleased today to announce that the company has raised $200 million as part of a new financing round from existing investors Valiant Peregrine Fund and D1 Capital Partners. This announcement increases the company’s valuation to $17.7 billion.

COVID-19 has forever changed the way people shop for their groceries and goods and, as a result, Instacart has gone from a convenience to a lifeline for millions of people. Today’s investment comes as consumer demand for Instacart’s service continues to grow and we continue to expand our marketplace with new and existing retail partners. We now partner with more than 500 retailers and deliver from nearly 40,000 store locations across the U.S. and Canada.

We expect to deploy the new capital in a number of ways, including: product development focused on introducing new features and tools to enhance the customer experience, continued investment in Instacart Enterprise to support retailers’ end-to-end ecommerce needs, and further investment in Instacart Ads to help connect Consumer Packaged Goods (CPG) brands of all sizes to customers shopping online from their favorite local retailers.

Going forward, our teams remain relentlessly focused on building the absolute best online grocery shopping experience, while partnering with iconic retailers to offer more selection and value to customers across North America.

Instacart

Instacart is the leading online grocery platform in North America, partnering with more than 700 beloved national, regional and local retailers, including unique brand names, to deliver from more than 65,000 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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