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Grocery delivery company Instacart announced Thursday that it raised $225 million in new venture capital funding at a $13.7 billion valuation.

Why it matters: Instacart was often an afterthought for those following the gig economy, until the coronavirus pandemic made it a lifeline for many Americans who were unable or unwilling to shop for groceries. It's now valued higher than competitors like Postmates, Grubhub, Lyft and DoorDash.

Go deeper: Instacart claims strike had "no impact" on operations

Instacart now valued at $13.7 billion

It's no longer a gig economy afterthought.

Illustration of a waiter holding a silver serving tray featuring a bag of groceries

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Gig economy

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Grocery delivery company Instacart announced Thursday that it raised $225 million in new venture capital funding at a $13.7 billion valuation.Why it matters: Instacart was often an afterthought for those following the gig economy, until the coronavirus pandemic made it a lifeline for many Americans who were unable or unwilling to shop for groceries. It&#x27;s now valued higher than competitors like Postmates, Grubhub, Lyft and DoorDash.Go deeper: <a class="gtmContentClick" data-vars-link-text="Instacart claims strike had &quot;no impact&quot; on operations" data-vars-click-url="https://www.axios.com/instacart-strike-no-impact-0f2c4953-ade8-404d-a362-dcd296ef54f1.html" data-vars-content-id="57da0c3c-1d4f-4440-bd5c-6b58587d4e01" data-vars-headline="Instacart now valued at $13.7 billion" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/instacart-strike-no-impact-0f2c4953-ade8-404d-a362-dcd296ef54f1.html" target="_self">Instacart claims strike had &quot;no impact&quot; on operations</a>

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.