According to a document filed by Instacart with the SEC, the company launched a $44.54 million non-brokered equity offering. So far Instacart sold 95% or $42.44 million worth of new unregistered securities to ten backers. The subscription started on June 10th. Two previous unregistered financing rounds raised an estimated $8.93 million.
Instacart markets an application for users to order same day grocery delivery. The company is backed by Sequoia Capital and Khosla Ventures.
Apoorva Mehta (CEO) leads the San Francisco CA based company which was registered in 2012. Instacart elected to keep its revenues undisclosed.
The board of directors includes Jeff Jordan and Michael Moritz.
The company has raised an estimated total of $51.37 million via private unregistered security offerings.
Instacart is registered under the name Maplebear.
Status: First close
Amount offered: $44.54 million
Amount placed: $42.44 million
First sale: 06-10-2014
Data as of: 06-24-2014