Food marketplace Good Eggs raises $100 million in South California push

Feb 3 (Reuters) – Good Eggs said on Wednesday it had raised $100 million in a new funding round, as the local food delivery firm and marketplace looks to expand beyond the Bay Area into South California and triple its addressable market.

The company’s online marketplace allows people to buy consumables, including meal kits, alcohol and flowers, from producers within their community.

The funding round was led by venture capital firm Glade Brook Capital Partners and Alphabet Inc’s GV and also included investments from Tao Invest, Finistere Ventures, and Rich’s.

“The grocery market is undergoing a fundamental change and the shift to e-commerce and higher quality products and services is accelerating,” J.P. Van Arsdale, a partner at Glade Brook who is also joining the Good Eggs board, said.

Good Eggs, which also counts Benchmark Partners, Index Ventures, S2G, DNS Capital and Obvious Ventures as investors, did not disclose the valuation at which the funding was raised.

San Francisco, California-based Good Eggs, which almost doubled its customer base over the past year and hired over 400 workers, would also use the funds to create up to 1,000 new jobs as the COVID-19 pandemic has boosted demand for grocery delivery.

The company said it had tapped Vineet Mehra, former global chief marketing officer and chief customer officer of drugstore chain Walgreens Boots Alliance Inc, as its chief growth and customer experience officer. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Vinay Dwivedi)