A Chipotle Bacon Bowl. DoorDash has delivery partnerships with popular restaurant brands like Chipotle, Wingstop, Dennys and Portillo’s. image : Chipotle

DoorDash has announced $400 million in Series F funding co-led by Temasek and Dragoneer Investment Group with participation from existing investors DST Global, Coatue Management, Y Combinator, Sequoia Capital, GIC and Softbank Vision Fund. This round values the company at $7.1 billion valuation, up from a $6 billion valuation it was reported to be raising at.

DoorDash says its growth rate has increased from more than 250% year-over-year – as at the time of the company’s last financing in August last year. – to 325% in 2019. Over the last 12 months, it has broadened its coverage to more than 3,300 cities, becoming the first on-demand service to operate in all 50 states in the U.S. DoorDash also says its adding more than 30,000 customers each week and that the new funding will enable it reach new consumers across the US and continue strengthening its last-mile delivery service.

DoorDash co-founder and CEO Tony Xu Photo by Noam Galai/Getty Images for TechCrunch

“Last year, the culmination of more than four years of work came to fruition as we expanded our geographic footprint by over five times across the U.S. and Canada, launched and scaled DashPass (its subscription service) to become the largest food delivery subscription product in our industry, and expanded beyond restaurants through our DoorDash Drive (direct delivery for businesses) platform,” DoorDash CEO Tony Xu said in a statement.

Founded in 2013, DoorDash has grown from its Stanford University beginnings to a leading on-demand service operating in the U.S. and Canada. It has partnerships with popular restaurants including Chipotle, Denny’s, Portillo’s and Wingstop, and retailers like Walmart who it partnered with in April last year.

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print