goPuff today announced that it has secured $1.15 billion in new funding, more than doubling its valuation to $8.9 billion in just 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.
“We are grateful for the confidence of our longtime returning partners as well as the new, top-tier institutions joining this round who understand our differentiation in the market. We look forward to their support as we accelerate our growth plans and continue to define and transform the instant needs space,” said Rafael Ilishayev, co-founder and co-CEO of goPuff.
goPuff says it “will also continue to leverage its platform to enter new verticals and expand its thriving local partnership program. ”
goPuff has now raised close to $2.5 billion. Its model is presumably producing promising results or it wouldn’t be receiving more investment. Future questions will include goPuff’s timetable for an IPO, and how volume will hold up as the pandemic recedes.
Separately, goPuff has recently added several high-profile executives.