1. News
June 6, 2016

goPuff raises $5m in venture funding for expansion

On-demand convenience store delivery service goPuff has raised an additional $5m in venture funding led by exisiting investor Anthos Capital.

On-demand convenience store delivery service goPuff has raised an additional $5m in venture funding led by exisiting investor Anthos Capital.

This latest funding completes goPuff’s Series A round, through which it has raised a total of $8.25m.

The funding will help goPuff to expand into new markets such as Minneapolis, Minnesota; and Nashville, Tennessee, where it plans to open stores in the next few months.

"Using technology to make our lives more efficient, goPuff is eliminating the need to visit traditional stores."

It will open stores in Portland, Oregon, and Houston, Texas, this month. Besides these markets, goPuff aims to open stores in seven more cities by this year end.

It stocks more than 3,000 products, including snacks, home goods, alcohol and electronic items, which are delivered within 30min.

The company currently operates in nine markets, including New York City, Austin, Philadelphia, Boston, Seattle, Chicago, Washington DC, Phoenix and Denver.

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It also intends to utilise the funds on marketing initiatives and a new 40,000ft² warehouse in Philadelphia.

goPuff co-founder and CEO Rafael Ilishayev said: "We expanded to our first three cities when we were completely bootstrapped. This additional funding is simply to accelerate our growth.

"Ultimately, our goal is to provide the fastest and most affordable on-demand delivery option available in the market. Using technology to make our lives more efficient, goPuff is eliminating the need to visit traditional stores."

goPuff was founded by Ilishayev and Yakir Gola in 2013. In the following year, the start-up turned into a full on-demand convenience store delivery service.

It offers an array of products across 20 categories, including groceries, office supplies, liquor stores, snacks and pet supplies in selected markets.