Wonder doesn’t look like it’s slowing down anytime soon. The food hall startup just raised another $600 million, according to a LinkedIn post from CEO Marc Lore.
The latest funding boosts Wonder’s valuation to over $7 billion. It follows a $700 million equity raise in March of last year and the company’s recent $650 million acquisition of Grubhub.
In his post, Lore wrote, “We plan to use this latest raise to continue accelerating the expansion of our physical retail locations, opening one a week,” and added that Wonder is looking to more than double its footprint—from 46 locations now to over 90 by the end of 2025. “We’re excited to bring Wonder to more communities throughout the Northeast and are focusing on our expansion into Philadelphia and D.C.,” he said.
The round was led by Google Ventures, New Enterprise Associates, Accel, and Forerunner, with strategic backing from Amex Ventures and others.
Wonder operates multi-brand food halls and brings multiple chef-driven concepts under one roof, available to order on a single ticket.
On stage during a panel at the recent Food On Demand Conference, Jason Rusk, EVP of restaurant operations at Wonder, broke down the company’s ecosystem.
“Wonder is a fully integrated app for dinner time,” Rusk said. “We own the marketplace, restaurant, and delivery, and it’s total transparency for consumers through the use of technology. One thing that e-commerce does so well, with the likes of Amazon, is it provides a one-stop shop for everything you need. The advantage we have is providing that type of experience in a restaurant format.”
Beyond the Grubhub deal, Wonder also bought meal-kit company Blue Apron for $103 million back in 2023. Recently, it also acquired Tastemade, a media company for cooking shows and other content for social media and streaming.
With new funding, Wonder is also looking to invest further in faster cooking, smarter software, new menu offerings, more chef collaborations, next-gen kitchen designs, and optimized delivery.
In an interview with Bloomberg, Lore mentioned that he would eventually like to take the company public.
