[6 June/ Food Dive]

Shipt, an online ordering and delivery service, announced it had raised USD40 million in Series B funding led by Greycroft Partners, e.ventures and Harbert Venture Partners. This Series B funding comes after a Series A financing round of USD20M less than a year ago. The new capital will enable Shipt to increase the number of metro areas it delivers to from 47 to 100. Shipt has partnered with retail giants like Meijer, Costco and Whole Foods Market Inc. to offer its services, giving customers an unlimited free delivery service on orders more than USD35 in exchange for a US99 annual fee. Shipt said the average basket size is USD110. The company’s solid growth has given it a 20 percent share of the online grocery market.