On-demand food delivery service raises $400 million in new funding

On-demand food delivery service raises $400 million in new funding

DoorDash Inc. – an on-demand food delivery service operating in all 50 US states, has raised another $400 million in a Series F funding round led by Temasek and Dragoneer Investment Group.

The cash injection brings DoorDash’s total capital raised to $1.4 billion, of which $978 million came from funding rounds in the last year.

The food delivery company is now worth $7.1 billion and is closing the gap with rival Grubhub, whose market worth is around $7.2 billion.

The Doordash blog states: “Our mission has always been to connect customers with their favorite local and national businesses by being the best last-mile logistics player in North America. We’ve had a momentous 2018 and will continue to innovate and expand our offerings so that we can provide our customers, merchant partners, and Dasher community unparalleled experiences and service.”

In 2018 DoorDash expanded its geographic footprint by five times, reaching 3,300 cities and 80% of Americans nationwide, and becoming the first on-demand food platform available in all 50 states.

 

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