Gopuff raises $1bn in new funding, doubling down on business priorities
Participating investors in the most recent funding round, which follows a previous fundraise of $1.15bn in March 2021, include Blackstone’s Horizon platform, Guggenheim Investments, Hedosophia, MSD Partners, and Adage Capital, along with existing investors Fidelity Management and Research Company, Softbank Vision Fund 1, Atreides Management, and Eldridge.
“Gopuff has quietly built a very strong business and solidified itself as the leading player, continuing to define this evolving category,” said Scott Minerd, global chief investment officer of Guggenheim Investments.
The founders' measured approach to building and scaling the business has only "scratched the surface," added Minerd. Earlier this year, Gopuff acquired UK-based Fancy Delivery and also launched Gopuff Kitchen, a direct delivery service of made-to-order hot and fresh food delivered to customers along with everyday essentials.
"With these new funds, we will accelerate our strategic priorities, including furthering geographic expansion across North America, expanding deeper into the UK and across Europe, hiring top-tier local talent, and more," the company said.
“As Gopuff continues to define the Instant Needs economy, we are thrilled to have new leading global partners onboard, along with the support of our longtime investors. This funding round is further validation of the success of our model and will enable us to continue to do what we do best: deliver an unmatched customer experience,” said Rafael Ilishayev, co-founder and co-CEO of Gopuff.
"We have truly doubled down on our key business priorities, accelerating our geographic expansion by entering new markets in the US and abroad, innovating for our customers, and continuing to invest heavily in our technology, our people, and our partners. We look forward to continuing to enhance the customer experience and to bring the magic of Gopuff to new customers around the world," added Yakir Gola, co-founder and co-CEO of Gopuff.