We’re thrilled today to welcome Sagar Sanghvi, former CFO of Instacart, to the Accel investment team.
At Accel we are committed to being the first partner to exceptional Founders everywhere. We have never been more excited about the tremendous opportunities to create transformational companies, as we continue to participate in the mass digitization of the global economy. Yet for entrepreneurs today, the pressure of scaling a business has never been more acute: competitors are well-funded and moving fast, acquisition channels are congested, talent markets are tighter than ever. Against that backdrop the steady advice of an experienced and credible operator can bring clarity and relief. In Sagar, Founders will find a true partner in the company building journey.
During Sagar’s tenure, Instacart grew from 300 employees to over 1,500, expanded its offering to cover 85% of North American households and raised over $2 billion. He helped steer the company through both momentary existential challenges (Amazon acquiring Whole Foods) and truly unprecedented circumstances (managing demand surge during Covid lockdown). He oversaw the transformation of Instacart’s unit economics and strengthening of its financial profile, including partnering closely with his colleagues to stand up a new advertising business. While Sagar’s work ethic and sound economic judgement set him apart, we think his humble demeanor and empathy for entrepreneurs will make him the perfect addition to our family.
What we admire most about Sagar is his versatility: while he’ll certainly be a resource to anyone scaling a marketplace business, managing hypergrowth or building a consumer brand, he is equally credible to teams focused on back office automation, standing up payments solutions, managing risk and fraud, and beyond. At Accel, Sagar will focus on growth-stage consumer and enterprise investments, globally.
Please join us in welcoming Sagar to the team!
-The Accel Partners