A long line of e-grocers raised substantial amounts of cash last year and it seems as though investors aren’t letting up anytime soon.
Grocery and meal kit delivery service Good Eggs announced Wednesday that it raised $100 million in new financing to bring its business to Southern California. From fresh baked bread to organic wine, Good Eggs sources nearly all of its products and ingredients from local farmers and retailers.
Over the past year, Good Eggs moved its warehouse from San Francisco to Oakland and hired over 400 new employees. As the company expands to sunny SoCal, it expects to welcome up to 1,000 new members to its team.
“2020 was a transformational year for Good Eggs,” Bentley Hall, the company’s CEO, said in a statement. “We have spent more than a decade building an enduring foundation while also keeping our community of customers and producers gratified.”
The company also announced the arrival of a new executive to lead its SoCal growth effort. Vineet Mehra will serve as the company’s chief growth and customer experience officer. Mehra previously served as executive vice president and global chief marketing officer for Ancestry and CMO for Walgreens Boots Alliance.
“Good Eggs’ purpose and belief that ‘good food is the most powerful force for change’ resonates deeply with me as a person, and I am humbled to join the team at a moment when families and households need us more than ever,” Mehra said in a statement.
In addition to offering groceries and meal kits, Good Eggs has an array of prepared foods, alcohol and floral bouquets available for purchase. The order minimum is $30.
The company provides its users with the option to add to an order well after it’s been placed, right up to the cut-off time. For those worried about waste, Good Eggs picks up and reuses its boxes and ice packs. The rest of its packaging is recyclable or compostable, according to the company.
Founded in 2011, Good Eggs has raised $165 million in financing to date.
The round was led by Glade Brook Capital Partners. Additional investors GV, Tao Invest and Finistere Ventures participated in the round, among others.
