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Instacart raises $600 million in funding round, valuation at $7.6 billion

October 17, 2018

Human cloud, online services firm Instacart raised $600 million as part of a financing round led by D1 Capital Partners. The investment increases the company’s valuation to $7.6 billion.

Instacart expects to use the new capital for further expansion in North America; marketing investments to increase awareness of Instacart at its retail partners’ stores; and recruiting engineering and product development talent.

To date, the company has raised more than $1.6 billion in funding and counts 600 full-time employees across North America.

Staffing Industry Analysts’ report, The Gig Economy and Human Cloud Landscape: 2018 Update, ranks Instacart as the ninth-largest consumer-focused (B2C) human cloud platform with $500 million in 2017 gross spend.

Instacart operates at more than 15,000 grocery stores across 4,000 cities. It has partnerships with more than 300 retailers including Kroger, ALDI, Loblaw, Sam's Club, Sprouts, Publix, Albertsons and Walmart Canada.