Fulfillment provider 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.
The company currently operates more than 250 micro-fulfillment centers across the country, fulfilling customer orders of cleaning and home products, over-the-counter medications, baby and pet products, food and drinks and, in some markets, alcohol. The company delivers products in the “instant needs” market for a flat $1.95 delivery charge.
With this new funding, goPuff will continue to accelerate its strategic priorities, which include geographic expansion across the U.S. and internationally, introducing new product categories, and investing in new technology and top-tier talent that will further enhance the customer experience.
goPuff also will 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 both on and off goPuff’s platform in order to reach consumers and translate those interactions into purchases. Additionally, the company is launching new categories, including new Better for You, Beauty and enhanced Baby categories. It also recently debuted Curated Mystery Boxes and has introduced more than 500 new local products to the platform as it seeks to expand and enhance the customer experience.