Photo by Gary Friedman/Los Angeles Times via Getty Images

Good Eggs, a San Francisco-based online grocery for fresh products, has raised $50 million in new VC funding. Benchmark Capital led, with partner Bill Gurley joining the company's board of directors.

Why it's a big deal: Because this one of few startups that seems to have come out the other side of a massive restructuring, which included a financial recap, layoffs, market closures, top management changes and a realization that Good Eggs is a food biz enabled by tech rather than a tech company involved with food.

"We spent the first eight months of 2016 solely focused on bedrock foundation, so the board didn't have a single conversation about growth," CEO Bentley Hall tells Axios.

He adds that the company plans to open another Bay Area facility and soon expand to the Los Angeles market. Overall, however, Hall doesn't necessarily foresee the company moving beyond the West Coast

  • Other investors: Index Ventures, Obvious Ventures, S2G Ventures, DNS Capital, Uprising and Collaborative Fund.
  • This round means that both Benchmark and Sequoia Capital (via Instacart) have returned to the sector site of their most public failure (Webvan).

Go deeper

54 mins ago - World

Countries waiting to see if Trump wins before moving on Israel normalization

The delegation lands at Israel's Ben Gurion airport. Photo: Jack Guez/AFP via Getty

The White House is attempting to leverage momentum from Israel's normalization deals with Bahrain and the UAE to get more Arab countries on board before the U.S. election.

Driving the news: President Trump wants Sudan's removal from the U.S. state sponsors of terrorism list to be accompanied by a pre-election announcement on Israel.

Poll: 92% of battleground state voters are "extremely motivated to vote"

Voters stand in line at the Metropolitan Multi-Services Center in Houston, Texas, on Oct. 13. Photo: Mark Felix for The Washington Post via Getty Images

91% of likely voters nationally say they are "extremely motivated to vote," including 92% in battleground states Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin, according to a Change Research/CNBC Poll.

Why it matters: The 2020 election could see record-breaking levels of voter turnout. Voters last week cast ballots at nearly five times the rate they did at this point in the 2016 election, per the U.S. Elections Project. Over 39 million ballots have been cast in early voting states as of Wednesday.

Caitlin Owens, author of Vitals
2 hours ago - Health

OxyContin maker Purdue Pharma to plead guilty to 3 criminal charges

Members of P.A.I.N. (Prescription Addiction Intervention Now) and Truth Pharm staged a rally and die-in last year outside New Yorks Southern District Federal Court in White Plains, where Purdue Pharmaceuticals' bankruptcy hearing was being held. Photo: Erik McGregor/LightRocket via Getty Images

Purdue Pharma, the maker of OxyContin, will plead guilty to three federal criminal charges Wednesday as part of a more than $8 billion settlement with the Justice Department, AP reports.

Why it matters: "The settlement is the highest-profile display yet of the federal government seeking to hold a major drugmaker responsible for an opioid addiction and overdose crisis linked to more than 470,000 deaths in the country since 2000," AP notes.