Instacart the Grocery Delivery Startup Raises $210 Million

San Francisco, California based Instacart, which provides a delivery service for groceries, has raised close to $210 million in a round of funding says documents that were filed on Tuesday with the regulatory agency the Securities and Exchange Commission.

The latest round of funding, which could jump up to $220 million if every allotted share is sold, has more than quadrupled the previous valuation of the startup that was $400 million, which was based upon other regulatory filings.

One online research firm suggested that the new round of investment would put a value of $2 billion on the company according to one industry source.

Instacart, which provides an ordering service online and delivery the same day from grocery stores like Whole Foods and Safeway, in June, was able to raise over $44 million in a fundraising effort that Andreessen Horowitz led.

It is not clear who makes up most recent investment, which the company disclosed with a filing with the SEC in the name of MapleBear, Inc, which was the previous name for Instacart.

A spokesperson for Instacart was not available to make an immediate comment regarding the new round of funding or who were the investors involved in the financing.

According to one source, Instacart will end 2014 with revenue that just exceeded $100 million, which is 10 times the amount of sales it had in 2013.

However, the company has a large number of competitors, which are Internet behemoths, including Google and Amazon.com.

There are also other startups in the market, including Postmates, which is another company based in San Francisco that provides quick product and foodstuff deliveries.

Amongst the biggest shareholders in the company is Sequoia Capital, an investor previously in Webvan a delivery bust on the Internet.

Michael Mortiz a partner in Sequoia was involved with his company’s investment in Webvan, sits on the board at Instacart and has maintained for a long time that the two businesses are much different.

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