Former DIG SOUTH Tech Summit Featured Company GoPuff Raises $1.2B; Valuation of $8.9B
Delivery startup goPuff announced Tuesday that it raised $1.2 billion in funding at a valuation of $8.9 billion. That’s $5 billion more than its previous valuation in October 2020. GoPuff VP of Strategy and Chief of Staff Dan Folkman kicked off DIG SOUTH Tech Summit as the featured executive speaker in 2019 when they were only worth a paltry $750M!
As reported by Morning Brew…
In the beginning. GoPuff was launched in 2013 by two Philly college students who, like all of us, were sick of running out of garbage bags at the most inconvenient time. Since then, the company has expanded to more than 650 cities across the US, using delivery drivers who visit micro-fulfillment centers to bring you everything you forgot at the grocery store.
But if goPuff is the Kirsten Dunst of the snack and household item delivery world, cue the Clovers ready to Bring It On: Amazon’s 2-hour Fresh service, DoorDash, Uber Eats, Postmates, and Instacart are all trying to grab some of that goPuff market.
Zoom out: Food and grocery delivery seemed to explode during the pandemic, and goPuff reported that its order volume increased 400% in the first half of 2020. With fresh funding, goPuff can ride the current wave and keep expanding to new cities and categories for post-pandemic needs.
TECH IN THE SOUTH
ATLANTA – First in the South. After working with mixologists, and food scientists, and packaging engineers, Post Meridiem Spirits launched making it the first canned cocktail company in the Southeast. The team started at a WeWork and now has a growing warehouse on Atlanta’s Westside. Get the deets.
TAMPA – Simplified shopping. Ensurem, a Clearwater-based insurance brokerage firm, has been acquired by 777 Partners, a Miami-based private investment firm, for an undisclosed amount. The acquisition comes after several years of strong growth for Ensurem. Tech it out.
DURHAM – New funding. Brii Biosciences is plowing ahead with its clinical development programs after landing a whooping $155 million in funding. The company said funding would be used to advance Brii Bio’s “broad infectious diseases pipeline as well as the company’s CNS program.”. Tech it out.
AUSTIN – AI analysis. Austin’s welcome mat might seem pretty well-tread at this point. But with each new addition to the tech ecosystem, Austin’s pool of talent and opportunity gets a little deeper. The latest addition is a San Jose data services company called Harmonate. Learn more.
Don’t Forget! SOUTH POD with Paul Sparrow of Chief Outsiders Streaming Tonight
Learn New Growth Tools from CMO Paul Sparrow
Thursday, March 25 at 8 PM ET
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Check Your Engine Oil Before Driving: Capitalizing on the Unique Economic State of Your Business
Chief Marketing Officer, speaker, and business growth expert Paul Sparrow shares a simple methodology for determining the economic health and trajectory of a given business. Coupled with the most recent forecasts and trends driving the core US economy, participants will be exposed to new tools that will help them drive the growth of their respective businesses.
Dig Nation Member Roundup
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Welcoming Parker, Poe, Adams & Bernstein + Quantgene
DIG NATION is thrilled to onboard two new members this week – Charleston-based law firm Parker, Poe, Adams & Bernstein, and Quantgene, a Santa Monica-based world-leader in precision genomics and AI-enabled personalized preventative care. Quantgene recently partnered with Charleston-based Vikor Scientific. Keep an eye out for in-depth profiles coming soon!