Deliveroo Earns Unicorn Status With $275m Series E by PitchBook
On-demand food delivery service Deliveroo has announced a $275 million (£210M) Series E financing that is rumored to value the company at north of $1 billion. The round was co-led by Bridgepoint, DST Global and General Catalyst, with participation from Greenoaks Capital. Deliveroo has now raised roughly £332 million in funding, which includes a £62.8 million Series D round in November 2015 that valued the company at £375.7 million.
With this round, Deliveroo further cements itself as a leader in a thinning on-demand food space. Just two weeks ago, Brussels-based startup Take Eat Easy called it quits after being unable to raise a Series C, despite hitting a positive contribution margin on its orders. Earlier this year, SpoonRocket also shut down, citing difficulties covering costs and raising more funding. What was once an industry full of competing companies is now moving toward being dominated by a few well-funded players, which could be seen as a sign of maturity for the on-demand food space.
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Below is a breakdown of Deliveroo’s funding history, including valuations for previous rounds:
- June 2014: £2.8M Series A/£11.8M valuation
- January 2015: £14.7M Series B/£61.6M valuation
- July 2015: £41.3M Series C/£196.6M valuation
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