SoftBank-backed digital convenience store goPuff’s valuation has more than doubled in five months amid a pandemic-fueled surge in online food and grocery delivery.
The company announced Tuesday that it raised $1.15 billion at a $8.9 billion valuation. That’s a significant jump from GoPuff’s last funding round in October 2020, which valued the company at $3.9 billion.
GoPuff said in a release that it will use the new funds, which included an investment from SoftBank Vision Fund 1, to continue expanding across the U.S. and internationally. It also plans to invest in new technology, talent and product categories, like beauty, baby products and healthier food offerings.CNBC