We’ve Closed $220M Series C Round of Financing Led by Kleiner Perkins Caufield & Byers

Happy New Year! 2014 was a very exciting year, let’s take a moment to reflect on last year’s company milestones:

• Instacart’s revenue grew by more than 10x in 2014, doubling in Q4 alone.
• We signed partnership agreements with major retailers such as Whole Foods Market, Fairway Market and Fresh & Easy.
• We partnered with exciting companies like HomeAway and Yummly to make your busy lives even easier.
• We more than doubled our full-time employee base, which now exceeds 100.
• And last but not least, we now have more than 4,000 Personal Shoppers, independent contractors who shop for and deliver customer orders.

2014 was a growthful year, but 2015 will be even bigger! Yesterday we announced that we’ve closed a $220M round of Series C financing led by Kleiner Perkins Caufield & Byers (KPCB). Other participants in the round include Comcast Ventures, Dragoneer Investment Group, Thrive Capital, Valiant Capital and previous investors Andreessen Horowitz, Khosla Ventures and Sequoia. This brings our total funding to date to approximately $275M.

We plan to apply the funds primarily toward category expansion, continued geographic growth and technology enhancements.

Instacart’s CEO and Founder Apoorva Mehta shared that “Instacart’s offering really resonates with customers, we’ve got robust processes in place to support category and geographic expansion. Our vision is to help all types of local retailers get online and offer their customers one-hour delivery. This financing round will help us accelerate and scale those efforts.”

We’ve disrupted the traditional grocery delivery space with our crowdsourced labor force dubbed Personal Shoppers who shop for and deliver orders using their own transportation in as little as one hour. This eliminates the need for costly infrastructure such as inventory, warehouses, trucks and full-time drivers. Rather than trying to disintermediate local stores as some delivery services have done, our strategy is to partner with retailers to help them expand their geographic reach and overall revenue. We have lots up our sleeves for 2015, be sure to like us on Facebook to get the latest scoop on our company news!

About Kleiner Perkins Caufield & Byers

Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build pioneering companies like Amazon, Electronic Arts, Genentech, Google, Nest, Netscape and Twitter. KPCB offers entrepreneurs years of operating experience, puts them at the center of a vast and influential network, and accelerates their success through expertise and support in recruiting, product design and delivery, business development, strategic partnerships and brand building. KPCB invests in all stages from seed and incubation to growth companies and operates from offices in Menlo Park, San Francisco, Shanghai and Beijing. For more information, visit https://www.kpcb.com and follow us @kpcb.