DoorDash ropes in $600m in Series G

BFSI News

DoorDash-ropes-in-600m-in-Series-G DoorDash ropes in $600m in Series GDoordash, a San Francisco, California-based intelligent, last-mile delivery platform, as per recent reports last week, has just closed a Series G funding round, raising $600 million in investment funding. With this recent funding round, Doordash’s valuation is now brought to over $12.6 billion.

Doordash’s recent Series G funding round was participated by new investors Darsana Capital Partners and Sands Capital, along with the existing investors Coatue Management, Dragoneer, DST Global, Sequoia Capital, Softbank Vision Fund, and Temasek.

The company plans on utilizing this recent investment to continue its geographic expansion.

Delivering all variety of foods from Italian, Chinese, Japanese, Indian restaurants, alongside a bunch of new pizzerias and café outlets, Doordash caters to nearly one million customers through its door-to-door delivery platform, in 4,000+ cities across the US and Canada. The platform has more than 340,000 stores that are patched up on to it.

Last year, the national delivery platform raised $1 billion in funding, which also includes Softbank’s past year funding. And now, being ranked No. 1 food delivery service by Edison Trends with 27.6% in market share, Doordash has come a long way, overtaking its counterparts GrubHub at 26.2% and UberEats at 25.7% market share, as of Feb. 2019.

According to Doordash, it has grown 280% year-over-year.