Home delivery food company, Blue Apron, has announced the closing on a $135 million, Series D round of fundraising led by Fidelity Management and Research Company and with participation from existing investors.
Blue Apron packages portioned ingredients and recipes, which are then home-delivered once a week for $10 per meal. The latest sales information from the company indicates that it is selling 3 million meals per month translating to yearly revenue of $360 million.
This round follows the company’s $50 million, Series C round of fundraising in April 2014 at which time the valuation on the company was $450 million. After its latest Series D round, it has been valued at $2 billion. Since its launch in April 2012, the company has raised a total of $193 million.
Blue Apron will be using the funds to increase the efficiency of the company’s operations through the addition of new custom fulfillment software and automation technology, which together with new fulfillment centers will enable the company expand its market to reach 99% of home cooks.
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