Instacart Scores $265M

Instacart, the leading online grocery platform in North America, today announced it has raised $265 million as part of a new financing round led by existing investors including Andreessen Horowitz, Sequoia Capital, D1 Capital Partners, Fidelity Management & Research Company LLC, and T. Rowe Price Associates, Inc. This investment comes as the adoption of online grocery has accelerated and consumer demand for Instacart's delivery and pickup services continues to grow. Today's announcement increases the company's valuation to $39 billion.

Instacart is the leading online grocery platform in North America. Instacart shoppers offer same-day delivery and pickup services to bring fresh groceries and everyday essentials to busy people and families across the U.S. and Canada. Instacart has partnered with nearly 600 beloved national, regional and local retailers, including unique brand names, to deliver from more than 45,000 stores across more than 5,500 cities in North America. Instacart's delivery service is available to over 85% of U.S. households and 70% of Canadian households. The company's cutting-edge enterprise technology also powers the ecommerce platforms of some of the world's biggest retail players, supporting their white-label websites, applications and delivery solutions. Instacart offers an Instacart Express membership that includes reduced service fees and unlimited free delivery on orders over $35.