Instacart Announces New Funding

According to an official statement made by Instacart, the company announced it has raised $225 as part of a new financing round led by DST Global and General Catalyst, with existing investor D1 Capital Partners participating. This investment increases the company’s valuation to $13.7 billion.

This investment comes as Instacart continues to experience an unprecedented surge in customer demand for grocery delivery and pickup across North America. COVID-19 has changed the rhythm of life for families everywhere and fundamentally reshaped the way people think about on-demand services like Instacart. Millions of people across North America are now relying on Instacart as an essential service to get access to the groceries and goods they need. In addition to serving as an essential service for customers across the US and Canada, we’ve also doubled the size of our shopper community, offering more than 500,000 people a safe, immediate and flexible earnings opportunity during this economic downturn.

Today, Instacart is accessible to more than 85 percent of households in the US, across all 50 states and more than 70 percent of households in Canada. Since the start of the year, we’ve accelerated our launch cadence with retailers. Today, we partner with more than 400 national, regional and local retailers to deliver groceries and household essentials from more than 30,000 stores across the US and Canada. In addition to groceries and everyday essentials, we’ve also extended the aisles of our offering over the last year to include delivery and pickup services for alcohol and prescriptions.

“As we look ahead, we have ambitious plans for the future and this new investment will enable us to deepen out support for our shopper community, further fund strategic business initiatives like Instacart Advertising and Enterprise and continued to scale our technology and operations to meet the needs of all the communities we serve,” the Instacart Team said.