Grocery delivery startup Instacart raises $210 million Series C on possible $2 billion valuation
Grocery delivery startup Instacart Inc. has raised $210 million Series C in a round led by Kleiner Perkins.
The round, first reported by Re/code but confirmed via regulatory filings by the Wall Street Journal follows rumors of a $100 million round we reported on December 5th.
There are some reports that the round was on a company valuation of $2 billion, but this has not been confirmed at the time of writing.
Founded in July 2012 by a former Amazon supply chain engineer, the San Francisco based based aims to be the Uber of grocery deliveries.
The service uses a fleet of “personal shoppers” who complete grocery orders that customers place via phone app or the Instacart website. The purchased goods are then delivered to customers, often within one hour, allowing customers to “save hours every week [by] not standing in line and driving to the supermarket.
The service is currently available in Atlanta, Austin, Boston, Chicago, Denver, Los Angeles, New York City, Philadelphia, San Francisco Bay Area, Seattle, and Washington, D.C. areas, and the company plans to expand into more cities in the coming year.
Supported grocery outlets include Whole Foods Market, Kroger, The Food Emporium, Super Fresh, Safeway, Costco and more
Instacart has previously raised $54.8 million from investors including Sam Altman, Aaron Levie, Canaan Partners, Khosla Ventures, Sequoia Capital and Andreessen Horowitz.
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