Instacart announced last month that it received $350 million in financing from Coatue Management, a technology-focused hedge fund, and noted that it has raised more than $1 billion since 2012, with most of it still in the bank.
According to the company, the additional funding will be used to double its employee count, fuel expansion, and invest in new products and services.
Instacart is now used by North America’s eight largest grocery retailers – Kroger, Albertsons, Publix, Costco, Ahold Delhaize, H-E-B, Loblaw and Sam’s Clubs, not to mention regional grocers like Wegmans.