On-demand grocery delivery service Instacart has closed a $350 million Series E financing round. The investment was led by Coatue Management, with participation from Glade Brook Capital and existing investors. The latest financing pegs Instacart’s valuation to $4.35 billion.

Instacart has raised over $1 billion since its founding in 2012. In a statement, the company said the vast majority of this capital was still in the bank.

[Image courtesy: Instacart]