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Facing unprecedented growth, Instacart <\/a> has secured new funding to keep up with demand. The San Francisco company announced today that it has raised $225 million in a round led by DST Global and General Catalyst. Existing investor D1 Capital Partners participated in the round, which brings Instacart’s valuation to $13.7 billion.<\/p>\n Instacart will use the cash to invest in shoppers and partners, build out its advertising and enterprise business, and focus on customer experience, per Apoorva Mehta, <\/a> founder and CEO of Instacart in a statement. The company will also invest in technical and operational infrastructure to help customers get their groceries on time, with orders up 500% year over year.<\/p>\n The round comes during a time when racial tensions are heightened following the police killing of George Floyd, an unarmed black man. In the days after his death, many tech companies have spoken out about the tragedy. Last week, Instacart said it would invest $1 million to support its internal teams and “help support actionable change,” Mehta tweeted<\/a>. Of that $1 million, $500,000 will go to compensate in-store shoppers and teams, with the rest going to nonprofit organizations like the Equal Justice Initiative and others.<\/p>\n Not a single mention of the Black community. 1\/ The events of the past week have created a flashpoint for awareness, action, and change — one that we at @<\/span>Instacart<\/span> recognize is long overdue. We want to help, and to that end will be investing $1M to support our internal teams and help support actionable change.<\/p>\n<\/div>\n<\/div>\n<\/div>\n <\/div>\n\n\n\n\n\n\n
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<\/a><\/p>\n\nVanessa Bain #GeneralStrike<\/span><\/span>@hashtagmolotov<\/span><\/div>\n<\/div>\n\n <\/div>\n<\/div>\n<\/div>\n\n <\/div>\n
Not a single mention of police brutality.
Not a single mention of the $10M Instacart has pledged to keep its workforce trapped in the structural violence of poverty.@<\/span>apoorva_mehta<\/span><\/a>, say something of substance or shut the fuck up. https:\/\/<\/span>twitter.com\/apoorva_mehta\/status\/1269318639489974272 <\/span>…<\/a><\/p>\n\n\n\n\nApoorva Mehta<\/span><\/span><\/p>\n <\/div>\n![\"\u2714\"](\"https:\/\/s.w.org\/images\/core\/emoji\/11.2.0\/72x72\/2714.png\")
<\/strong><\/span><\/span>@apoorva_mehta<\/span><\/div>\n<\/div>\n <\/div>\n\n\n\n <\/div>\n<\/div>\n