Instacart, a grocery-delivery startup, is reportedly raising a Series C round of more than $US100 million at a valuation of $US2 billion, sources told TechCrunch.
That’s a pretty big valuation leap from June, when the company raised $US44 million at a valuation of $US400 million. The company has raised $US154.8 million total.
Instacart, which launched two years ago, currently delivers groceries in about an hour to people in 10 different cities, with a delivery fee of $US5.99 for one-hour delivery and $US3.99 for two-hour delivery. It’s one of several startups trying to tackle the speedy-delivery space, including New York-based WunWun, which delivers small orders of groceries and other goods without a delivery fee in under an hour, and FreshDirect, which delivers to the Northeast with a delivery fee of up to $US7.99 for next-day service.
Big players like Google, with Shopping Express, and Amazon, with AmazonFresh, are also experimenting with same-day grocery delivery. Both can bring customers their goods same-day, but with longer delivery windows than Instacart’s or WunWun’s.
TechCrunch’s sources indicated that Kleiner Perkins could be leading the round. Business Insider reached out to Instacart for comment and will update if we hear back.