Meal Kit Delivery Service Blue Apron Seals $50M Funding Round
May 01, 2014
Blue Apron, which was rumored to be raising a $30 million funding round, announced that it has closed on $50 million in Series C funding led by Stripes Group and joined by previous investors Bessemer Venture Partners and First Round Capital. The new funds will be used to support Blue Apron’s business growth, including hiring across all divisions, expanding geographically, adding warehouse space and investing in operations technology, marketing and dedicated supplier partnerships.
Blue Apron, a meal kit delivery service that ships pre-portioned foods (with recipes) to users cooking at home, has now raised over $58 million in funding to date. Its last round was a $5 million Series B financing led by Bessemer that valued the company at about $32 million. The company's valuation after the latest round is reportedly $500 million. Blue Apron is competing with several similar companies that have also received VC funding, including Plated and HelloFresh.