DoorDash Gets a Hearty Helping of New Funds

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DoorDash, one of several startups that launched over the past few years to deliver food from the restaurant straight to customers homes and offices, is prepping for an even brighter future thanks to new funding announced Thursday.

DoorDash raised $400 million in Series F funding based on a $7.1 billion valuation, blowing the company well past unicorn status. Temasek and Dragoneer Investment Group led the funding, joined by incumbent investors, Y Combinator, Softbank Vision Fund, DST Global, GIC, Sequoia Capital and Coatue Management.

DoorDash’s ability to keep raising money is fueled by impressive growth. It’s market share in the food delivery business grew by 26.5%, while their overall business grew by 250% since their last funding round, according to numbers from Second Measure. It now claims to now be the only food delivery company available in all 50 states. 3,000 locations can now be served by DoorDash, or 80% of the population.

“Our mission has always been to connect customers with their favorite local and national businesses by being the best last-mile logistics layer in North America,” said a statement from DoorDash. “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.”

DoorDash is currently partnered with such restaurants as Wendy’s, Chipotle and Chick-Fil-A.

Image credit: DoorDash

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