Gopuff to accelerate strategic business initiatives with $1bn raise

Source: Gopuff

Gopuff has raised USD 1bn in new funding that values the company at USD 15bn. The round was backed by new investors. They are Blackstone’s Horizon platform Guggenheim Investments, Hedosophia, MSD Partners and Adage Capital. And existing investors Fidelity Management and Research Company, Softbank Vision Fund 1, Atreides Management and Eldridge.

The funding will accelerate the quick delivery company’s strategic business initiatives, a list that includes further geographic expansion across North America, deeper expansion into the UK (the company recently acquired Fancy) and across Europe. It will also use funds to hire top-tier local talent with the aim of enhancing its technology and maintain its customer experience levels.

The company was founded in 2013 by co-CEOs Rafael Ilishayev and Yakir Gola. It operates more than 450 sites in North America and the UK.