Deliveroo raises £211m investment for further expansion
Restaurant food delivery service Deliveroo has raised another $275m (£211m) investment from a number of different private equity firms to fund its further expansion.
The series E investment follows a series D funding round in November 2015, and is led by Bridgepoint, existing investor DST Global, and General Catalyst, along with participation from existing investor Greenoaks Capital.
Deliveroo, founded in 2013 by Will Shu and Greg Orlowski, is based in London and operates in 84 cities across 12 countries. It claims to have achieved over 400% growth and reached profitability in a number of its established markets since the November funding round. It has also launched in 29 new cities and added an additional 9,000 new restaurant partners.
The news comes after the company, which offers a 30-minute average delivery time, expanded its service to cover breakfast, express lunch, alcohol and corporate ordering, as well as striking deals with major partners such as PizzaExpress.
The new funds will be used to expand the service in both new and existing markets, as well as provide further investment in projects such as RooBox, a remote kitchen initiative. RooBox gives restaurants access to delivery-only kitchens in key locations, accelerating geographic expansion.
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. We're proud and honoured to have the support of Bridgepoint, DST Global and General Catalyst in this endeavour."
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