SEC Reports Instacart Raises $210 Million in Funding Round
SAN FRANCISCO, CA - Life's expensive, but even still there isn't much $210 million can't buy.
At least, that's what Instacart is hoping as it nears the end of its latest funding round with a sizable injection of fresh capital in the bank. According to the SEC, the company has raised almost $210 million through the course of a targeted $220 million funding round. Reuters reports that the primary investors behind this latest initiative were Andreessen Horowitz, Sequoia Capital, Khosla Ventures and Canaan Partners.
What Instacart will be doing with these new resources is a hotly debated topic. The company already has delivery partnerships with retailers like Whole Foods and Fresh & Easy. Could additional capital allow the delivery service startup to sign more retailers to its list? I wouldn't be surprised.
Others speculate that this new funding could allow Instacart to branch out its service into other cities. Currently the company operates in:
- Atlanta
- Austin
- Boston
- Boulder
- Chicago
- Denver
- Houston
- Los Angeles
- New York City
- Philadelphia
- Portland
- San Francisco Bay Area
- San Jose
- Seattle
- Washington D.C.
Instacart's website, however, hints strongly at future expansion plans. Perhaps Sacramento will be next on the company's list. I wouldn't mind produce coming to my door. Stay tuned.
