Instacart, the grocery delivery startup backed by Andreessen Horowitz, has reportedly raised a massive $220 million funding round.
The round, according to Recode, may value the company at a jaw-dropping $2 billion. Reached by VentureBeat, Instacart declined to comment on the rumored valuation. The company did, however, confirm a raise of at least $210 million in a public filing with the SEC today.
This round will bolster Instacart’s war chest as it faces growing competition from heavyweights like Google and Amazon, as well as from startups like Postmates and Wunwun.