A Philadelphia-headquartered consumer goods and food-delivery service has managed to attract the attention of an impressive list of investors.
Gopuff, an "instant-needs-economy" supplier of cleaning products, over-the-counter medications, baby and pet supplies and groceries, has landed nearly $1 billion in funding, according to a press release.
The new funding follows a $15 billion valuation from some of the world's foremost technology investors. Those new investors include Blackstone's Horizon platform, Guggenheim Investments, Hedosophia, MSD Partners and Adage Capital.
Gopuff's existing investors include Fidelity Management and Research Company, Softbank Vision Fund 1, Atreides Management and Eldridge. All of its investors are "further validating Gopuff’s position as the leader in instant needs," the press release said.
"Gopuff has quietly built a very strong business and solidified itself as the leading player, continuing to define this evolving category," Guggenheim Investments Global Chief Investment Officer Scott Minerd said in the press release.
Minerd also commented in the press release about the vision of Gopuff co-founders and co-CEOs Rafael Ilishayev and Yakir Gola.
"Rafael and Yakir are focused on maintaining fiscal responsibility while having the ability to successfully execute on strategic-growth opportunities," Minerd said. "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."
Gopuff has more than 300 fulfillment centers throughout the nation that deliver food and consumer goods products in more than 550 cities, according to the company's website.
Among many other things, Gopuff runs an "ambassador" program among its delivery associates to generate their favorite nonprofits.
Gopuff will use the new funding to continue acceleration of its strategic business initiatives, including further expansion across North America and an even deeper reach into the UK and across Europe, according to the release.
"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," Ilishayev said in the release. "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."