The Wall Street Journal: Instacart valued at $3.4 billion after latest funding round

Instacart has added $300 million to $400 million to its coffers in a new funding round that values the grocery delivery company at about $3.4 billion, according to a person familiar with the matter.

The valuation is a sizable increase from the $2 billion value set in late 2014, separating it from some other rival food-delivery companies struggling to prove they can ever operate profitably.

Sequoia Capital invested more than $100 million in the round, this person said, and a company joined as a “strategic” investor though the identity couldn’t be learned.

An Instacart spokeswoman declined to comment. Bloomberg earlier reported Instacart was raising $400 million.

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