Deliveroo secures $275m investment
Deliveroo, the global on-demand food delivery service, has announced a $275m Series E investment, led by Bridgepoint, existing investor DST Global, and General Catalyst, with participation from existing investor Greenoaks Capital. In a statement sent to Post&Parcel today (5 August), Deliveroo said that since its Series D round in November it has “achieved over 400% growth and reached profitability in a number of its established markets”. It has also launched in 29 new cities, added an additional 9,000 new restaurant partners, and created opportunities for 6,500 riders.
The company has expanded its services to include breakfast, express lunch, alcohol and corporate ordering, and has struck deals with major partners such as PizzaExpress.
Deliveroo said that it will use the funds to keep the expansion going, as well as provide further investment in projects such as RooBox, its “remote kitchen” initiative. RooBox gives restaurants access to delivery-only kitchens in key locations, accelerating geographic expansion.
The company, which was founded in 2013 by Will Shu and Greg Orlowski, is headquartered in London and currently operates in 84 cities across 12 countries.
Will Shu, Founder and CEO of Deliveroo, said: “After seeing strong growth in the markets we launched in November, our new focus is to drive further innovation in food delivery. In particular, I’m excited about exploring completely new ways to solve the hardest problems restaurants face when offering delivery. RooBox is the first illustration of this approach, and innovations like these are at the heart of our mission.”