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The basics:

• Wonder secures $600 million to double locations to 90+ this year
• Expansion targets include Philadelphia, D.C.
• Latest funding follows $700M round in 2024; valuation tops $7B
• Backers include NEA, Accel, GV, Forerunner and Amex Ventures

Wonder, a fast-growing food hall and delivery concept founded by billionaire entrepreneur Marc Lore, secured $600 million in new funding to help support its national expansion efforts.

In a May 6 LinkedIn post, Lore said the new capital will go toward accelerating brick-and-mortar openings to grow its current 46 locations to 90-plus by the end of 2025. According to Lore, that will be one store opening per week for the rest of the year.

“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 latest round of investment included backing from major existing shareholders, such as New Enterprise Associates, Accel, Google Ventures and Forerunner, along with new funding from strategic partners including Amex Ventures, according to Lore.

It comes a little over a year after Wonder’s $700 million fundraising round in March 2024.

The company – which has its R&D facility in Parsippany – is now valued at more than $7 billion, Bloomberg reported, citing an anonymous source. Of the $1.85 billion in capital Wonder has received from investors since its 2018 launch, $1.5 billion has been raised in the past year alone.

Since 2023, Wonder has made several key acquisitions to support its growth, including meal kit provider Blue Apron for $103 million in November 2023. In November 2024, it purchased on-demand delivery platform Grubhub for $650 million.

On the menu

In his social media post, Lore wrote, “Wonder’s continued growth would not be possible without our world-class team and trusted partners and investors who fuel our vision of revolutionizing the way people eat.”

Originally, Wonder revolved around mobile kitchens that prepared chef-designed meals outside of customers’ homes. In January 2023, the company began to focus on physical locations featuring options from restaurants it has licensing deals with.

Featuring a collection of acclaimed chefs and eateries, Wonder allows customers to order from dozens of restaurants at once for delivery, pick-up or dining in.

Available menus include: Limesalt, Tejas Barbecue, Fred’s Meat & Bread, Yasas by Michael Symon, Streetbird by Marcus Samuelsson, Burger Baby, Wing Trip, Alanza Pizza, Room for Dessert, Alanza, Detroit Brick Pizza Co., Royal Greens, Hanu Poke, Di Fara Pizza, Bellies (kids), Bobby Flay Steak, The Mainstay by Marc Murphy, Walnut Lane and Maydan.

Locally, Wonder has outposts in Westfield, Hoboken, Springfield, Midland Park, Cresskill, Ledgewood, Teterboro, New Providence, Livingston, Randolph and Green Brook. It expects to add at least seven new locations in New Jersey by this summer: Toms River, Cherry Hill, Brick, Shrewsbury, Woodbridge, Mount Laurel and Jersey City.

Lore, a former president and CEO of Walmart’s e-commerce business, told Bloomberg that Wonder has more than $2 billion in revenue and that he’d like to take the company public at some point. He also said there are no plans to sell the business.