Gopuff Raises $1 Billion in New Funding from Leading Global Investors

By Staff 3 years ago

Blackstone’s Horizon platform, Guggenheim Investments, and Fidelity Management and Research Company participated in the round

New funds will fuel Gopuff’s strategic business initiatives, including geographic expansion and investing in its global team and technology

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PHILADELPHIA–(BUSINESS WIRE)–Gopuff, the go-to platform for consumers’ immediate everyday needs, today announced that it has secured $1 billion in new funding at a $15 billion valuation. Some of the world’s foremost technology investors participated in the round, including new investors 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, further validating Gopuff’s position as the leader in Instant Needs.

“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. “Rafael and Yakir are focused on maintaining fiscal responsibility while having the ability to successfully execute on strategic growth opportunities. This measured approach along with Gopuff’s impressive offering has only just scratched the surface. We are thrilled to support this incredibly strong company and look forward to being part of Gopuff’s journey and continued expansion.”

With these new funds, Gopuff will continue to accelerate its strategic business initiatives including further geographic expansion across North America, deeper expansion into the UK and across Europe, hiring top-tier local talent, and focusing on enhancing its technology to continue to deliver an exceptional customer experience.

“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.

Since Gopuff’s last funding round in March, the company has made several strategic acquisitions and executed on growth objectives including global expansion, introducing new verticals, and enhancing its proprietary technology. This includes:

  • Acquisition of Fancy, a UK-based last-mile delivery platform that gets consumers their groceries and daily essentials in minutes.
  • Launch of Gopuff Kitchen, a new offering that brings made-to-order hot and fresh food to customers alongside everyday essentials.
  • Acquisition of rideOS, an enterprise start-up that builds cutting-edge proprietary technology for advanced routing, on-demand dispatch and fleet optimization.
  • Integration of BevMo! with Gopuff, expanding the assortment for customers, accelerating Gopuff’s footprint in California, and bringing Gopuff’s customer-focused technology to existing BevMo! customers.

“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.

About Gopuff

Gopuff is the go-to solution for immediate everyday needs, fulfilling customer orders of cleaning and home products, over-the-counter medications, baby and pet products, food and drinks, and in some markets, fresh prepared food and alcohol – in just minutes. With micro-fulfillment centers in every market it serves, the company delivers thousands of products quickly for a flat $1.95 delivery charge. Gopuff is open 24/7 in many markets and late night everywhere else to bring customers what they need, when they need it most.

Founded in 2013 by co-founders and co-CEOs Rafael Ilishayev and Yakir Gola, Gopuff currently operates more than 450 sites across North America and the UK, including 285+ micro-fulfillment centers and 185+ recently acquired BevMo! and Liquor Barn locations. To learn more, visit www.Gopuff.com or follow Gopuff on Facebook, Twitter or Instagram. Download the Gopuff app on iOS and Android.

Contacts

Media contact
press@gopuff.com

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