Technology/Services

GoPuff Raises $1.15 Billion

Latest investment more than doubles valuation to $8.9 billion
goPuff delivery convenience stores
Photograph courtesy of goPuff

PHILADELPHIA Tech delivery company GoPuff has secured $1.15 billion in new funding, more than doubling its valuation to $8.9 billion in five months.

Investors in the round include D1 Capital Partners, Fidelity Management and Research Company, Baillie Gifford, Eldridge, Reinvent Capital, Luxor Capital and SoftBank Vision Fund 1.

“We are grateful for the confidence of our longtime returning partners as well as the new, top-tier institutions joining this round who understand our differentiation in the market. We look forward to their support as we accelerate our growth plans and continue to define and transform the instant needs space,” said Rafael Ilishayev, co-founder and co-CEO of goPuff.

With these new funds, goPuff will continue to accelerate its priorities, which include geographic expansion across the United States and internationally, introducing new product categories and investing in new technology and talent.

“Since we initially invested in goPuff last fall, we have been consistently impressed by the team’s ability to successfully execute against its growth plans. The company's potential is tremendous, and we look forward to the unique opportunities that lie ahead,” said Daniel Sundheim, founder and chief investment officer at D1 Capital Partners.

GoPuff will also continue to leverage its platform to enter new verticals and expand its local partnership program. This includes investing in programs such as its recently launched media offering, goPuff Marketing Solutions (GMS), which enables brands to run media campaigns on and off goPuff’s platform to reach consumers.

Additionally, the company is launching new categories, such as goPuff’s new Better for You, Beauty and enhanced Baby categories. It also recently debuted Curated Mystery Boxes and it has introduced more than 500 new local products to the platform to expand and enhance the customer experience.

Philadelphia-based goPuff is an app-powered delivery company that operates in more than 500 cities. Its micro-fulfillment centers deliver products for a flat $1.95 delivery fee. It is open 24/7 in many markets and late night everywhere else. Founded in 2013, goPuff operates more than 250 micro-fulfillment centers servicing more than 650 U.S. cities, in addition to the recently acquired BevMo! locations.

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