Instacart announced Thursday that it has raised $225 million in an investment round led by venture capital firms DST Global and General Catalyst, pushing its valuation up to $13.7 billion.
The influx of cash comes as Instacart “continues to experience an unprecedented surge in customer demand,” the company said, as households increasingly ordered groceries online because of nationwide lockdowns.
“Overnight, Instacart became an essential service for millions of families across North America,” the company’s founder and CEO Apoorva Mehta said in a statement Thursday.