June 04, 2021
Hungryroot, a startup offering personalized grocery delivery, completed a funding round that brings its valuation to about $750 million, according to a person familiar with the matter, as interest in online food shopping remains elevated during the pandemic.
The company raised $40 million in Series C financing, Hungryroot said Friday, bringing its total fundraising to $75 million. The latest round was led by L Catterton, a private-equity firm that has invested in companies including Function of Beauty and Savage X Fenty.
The company plans to use the new funds to expand from about 300 grocery items available each week to 3,000 over the next three years, McKean said. It’ll also invest in new technology to improve its algorithms. Read rest here.