Instacart has raised $265 million as part of a new financing round. Solidifying its domination in the online grocery market, Instacart has raised $265 million as part of a new financing round that increases its valuation to $39 billion — more than doubling its valuation of $17.7 billion from October 2020. The COVID-19 pandemic has accelerated consumer adoption of delivery and pickup grocery services, and this momentum shows no signs of slowing as consumers come to rely on the convenience of online shopping. "Today's fundraising reflects the strength of Instacart's business, the growth our teams have delivered and the incredible opportunity ahead," said Nick Giovanni, CFO for Instacart. "This past year ushered in a new normal, changing the way people shop for groceries and goods. While grocery is the world's largest retail category, with annual spend of $1.3 trillion in North America alone, it's still in the early stages of its digital transformation. As online grocery penetration increases over the coming years, we'll continue to invest in our people, products and partners to support all of the communities we serve."