Instacart, a grocery shopping app, raised $600 million in a funding round which valued the company at $7.6 billion.

Money from the round, which brings the company’s total funding to $1.6 billion, will be used to expand in North America, increase awareness of the app at retail partner stores, and recruit engineering and product development talent.

Apoorva Mehta, CEO and founder, noted in a statement the US represents a nearly $1 trillion grocery market, adding the company believes “we’re in the very early stages of a massive shift in the way people buy groceries and we expect that one in five Americans will be shopping for their groceries online in the next five years”.

Mehta told TechCrunch 2018 has been a big year for the company and an initial public offering could be on the horizon.

The round was led by D1 Capital Partners. Its founder Dan Sundheim said: “Grocery is the largest category within US retail and it is also one of the least penetrated online. The industry is at a tipping point.”