- General
- October 9, 2020
- 4 minutes read
goPuff Lands $380 Million Round
Photo credit: goPuff On-demand delivery service goPuff has announced that it’s raised $380 million in new funding that pushes its…
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| Photo credit: goPuff |
On-demand delivery service goPuff has announced that it’s raised $380 million in new funding that pushes its valuation to $3.9 billion. The new funding was led by existing investors Accel and D1 Capital Partners, with participation from Luxor Capital and the SoftBank Vision Fund. Accel first backed goPuff in 2018 and is back two years later to co-lead a major funding round for the company. With the new funding, goPuff has now raised a total of over $1.2 billion in financing since its inception.
goPuff, which was founded seven years ago, is one of the leading on-demand delivery services in the US. With goPuff, residents in over 500 U.S. cities are able to order an assortment of products such as food and drinks, over-the-counter medications, home and cleaning products, and even alcohol (in some cities) on the go. goPuff is akin to an on-demand Amazon, given the company operates its own micro fulfillment centers rather than fetch goods from convenience and retail stores on the go as is the case with many other on-demand services. goPuff currently operates over 200 of such fulfillment centers, from which it stores and sends goods to its customers as demanded. goPuff delivers thousands of products on-demand for a flat $1.95 delivery charge and is available 24/7 in many of its markets.
goPuff as a company is based out of the city of Philadelphia in the U.S state of Pennsylvania. The company hasn’t garnered as much press attention as other on-demand services such as Postmates and DoorDash, not so surprising given it’s based in a city not so much known for housing technology companies. goPuff as a company has also quite eschewed the press, with fewer-than-usual announcements and public relations activity regarding its operations.
