Deliveroo, the on-demand food delivery service, has bagged $275m (£210m) in Series E investment to fuel its global expansion.
The investment is led by Bridgepoint, existing investor DST Global, and General Catalyst with participation from existing investor Greenoaks Capital.
Since its Series D round in November, Deliveroo has achieved more than 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, all while continuing to improve its already strong customer retention rates and maintaining a 30-minute average delivery time.
The company has also hit key milestones such as expanding its service to cover breakfast, express lunch, alcohol and corporate ordering, and 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 pioneering remote kitchen initiative. RooBox gives restaurants access to delivery-only kitchens in key locations, accelerating geographic expansion.
Full details of that initiative can be found HERE.
The company, which was founded in 2013 by Will Shu and Greg Orlowski, seeks to change the way the market thinks about food delivery.
Shu 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.”
Deliveroo currently works with more than 16,000 restaurants and employs 800 staff.