Instacart has landed $200 million as part of a new funding round led by current investors Valiant Peregrine Fund and D1 Capital Partners.
San Francisco-based Instacart said Thursday that the new investment lifted the company’s valuation to $17.7 billion. The online grocery specialist noted that the latest financing reflects ongoing strong demand for its pickup and delivery services as well as the expansion of its marketplace and base of retail partners.
Plans call for Instacart to funnel the new capital toward Instacart Ads to help connect CPG brands to customers shopping online from local retailers, Instacart Enterprise to support retailers’ end-to-end e-commerce needs, and product development to enhance the customer experience with new features and tools, among other uses.
Source: Supermarket News
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