After weathering a steep growth and restructuring cycle, Philly-based delivery giant Gopuff has raised another $250 million in a new funding round.
Founded in 2013 and most recently valued at more than $40 billion, according to PitchBook, Gopuff built and scaled what it calls the largest instant fulfilment network in the US and UK.
We’re back on offense, and we’re just getting started.”
Yakir Gola, Gopuff cofounder and co-CEO
The company has used the past few years to cut costs and refocus on its micro-fulfillment model, where customers can choose from thousands of convenience products — everything from beer to bread to toothpaste — delivered at a moment’s notice.
Its latest investment, which brings its total reported venture capital raise to more than $5.2 billion, is being positioned as the “next phase of growth” for the company, with key activity planned in AI implementation, faster fulfilment and an enhanced consumer offering.
The round was led by Eldridge Industries and supported by long-standing backers including Valor Equity Partners.
“Gopuff has built a resilient business that has outlasted every competitor in the instant-commerce space,” said Eldridge Industries Chair Todd Boehly. “We are proud of our long-standing partnership.”
Eldridge was previously named as an investor in Gopuff’s Marcy 2021 $1.15B Series G round, alongside D1 Capital, Fidelity, Baillie Gifford, Luxor, Reinvent Capital and SoftBank Vision Fund. That investment helped make Gopuff a unicorn (many times over) in a city with few privately held, billion-dollar growth companies.
The latest funding arrives after several years of scrutiny for the instant-commerce giant. Beginning in early 2022, Gopuff entered a prolonged period of restructuring that included mass layoffs, from hundreds of employees tracked through LinkedIn data to additional waves throughout the year and into 2023.
More recently, the company made headlines when it dismissed its CTO in 2024 after his arrest for drug possession and domestic violence, coming just days after a stop-work order posted at its Philly HQ. Though Gopuff resolved the issue, the episode underscored the operational and leadership challenges the company has faced in the 2020s.
“This milestone reflects the incredible hard work and execution of our team,” said Yakir Gola, co-CEO and co-founder of Gopuff, in a press statement. “We’re back on offense, and we’re just getting started.”
