DoorDash has successfully raised $2.1 billion over 10 funding rounds, positioning itself as a key player in the food delivery industry. The platform leverages intelligent last-mile delivery technology to connect customers with local and national businesses.
Keep reading to explore the intricacies of DoorDash's fundraising journey and the investors backing this transformative platform.
What Is DoorDash?
DoorDash, founded in 2013 in San Francisco, is a technology company that connects customers with local and national businesses. The platform leverages intelligent last-mile delivery technology to facilitate these connections.
Founded by Stanley Tang, Andy Fang, and Tony Xu, DoorDash has grown significantly since its inception. The company now operates in over 1,000 cities across the United States and Canada.
With a workforce of 1,001 to 5,000 employees, DoorDash continues to transform local businesses and empower new ways of working, earning, and living.
How Much Funding Has DoorDash Raised?
- Seed Round
- Amount Raised: $2,400,000
- Date: September 2013
- Motivation: Early-stage funding to kickstart operations.
- Series A
- Amount Raised: $17,300,000
- Date: May 2014
- Motivation: To expand market reach and scale operations.
- Series B
- Amount Raised: $40,000,000
- Date: March 2015
- Motivation: To further expand and enhance service offerings.
- Unknown Round
- Amount Raised: $35,000,000
- Date: March 2015
- Valuation: $600M
- Motivation: Additional funding to support growth and operations.
- Series C
- Amount Raised: $127,000,000
- Date: March 2016
- Lead Investors: Sequoia Capital
- Valuation: $717M
- Motivation: To invest in core technology and expand operations.
- Series D
- Amount Raised: $535,000,000
- Date: March 2018
- Motivation: To expand market presence and technological capabilities.
- Series E
- Amount Raised: $250,000,000
- Date: August 2018
- Valuation: $4B
- Motivation: To accelerate momentum and market expansion.
- Series F
- Amount Raised: $400,000,000
- Date: February 2019
- Lead Investors: GIC Special Investments, SoftBank Vision Fund, Dragoneer Investment Group, Temasek, Dst Global, Coatue Management
- Valuation: $7.1B
- Motivation: To accelerate unprecedented growth.
- Series G (First Round)
- Amount Raised: $600,000,000
- Date: May 2019
- Motivation: To support continued growth and expansion.
- Series G (Second Round)
- Amount Raised: $100,000,000
- Date: November 2019
- Lead Investors: T. Rowe Price
- Motivation: To further bolster growth and market presence.
Total Amount Raised: $2.1 billion. Current Valuation: $7.1 billion.
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that has been investing in early-stage and growth companies since 1972. It is known for backing some of the most successful technology companies in the world.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Apple, Google, Oracle.
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm that focuses on investments in early-stage and growth companies. It has a long history of supporting innovative technology and life sciences startups.
- Investment Focus Areas: Technology, life sciences, healthcare.
- Notable Investments: Amazon, Google, Twitter.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm founded by Vinod Khosla, co-founder of Sun Microsystems. The firm invests in a wide range of sectors, with a focus on transformative technologies.
- Investment Focus Areas: Technology, healthcare, sustainability, financial services.
- Notable Investments: Square, Stripe, Impossible Foods.
- Y Combinator Continuity Fund
- Details: The Y Combinator Continuity Fund is an investment fund that supports companies that have graduated from the Y Combinator accelerator program. It aims to provide follow-on funding to help these companies scale.
- Investment Focus Areas: Technology startups, particularly those from the Y Combinator accelerator.
- Notable Investments: Airbnb, Dropbox, Stripe.
- Wellcome Trust
- Details: Wellcome Trust is a global charitable foundation that supports biomedical research and health initiatives. It also invests in companies that align with its mission to improve health.
- Investment Focus Areas: Biomedical research, health, technology.
- Notable Investments: Illumina, Oxford Nanopore Technologies, Grail.
What's Next for DoorDash?
DoorDash is poised to capitalize on the burgeoning demand for last-mile delivery solutions, with opportunities to expand its operations both domestically and internationally. The company aims to invest in core technology to enhance its logistics capabilities, supporting local businesses and increasing delivery volumes. This growth potential is underscored by the addition of 19 markets in 2015 and a significant increase in staff.
Future fundraising efforts are likely to focus on sustaining this momentum, with potential for further investment from high-profile venture capital firms. However, DoorDash will need to navigate challenges such as maintaining high valuations in a competitive market and ensuring the scalability of its business model.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like DoorDash and gather other critical business insights.
Sign up for free on Clay and unlock the potential to drive your sales efforts with unparalleled data and insights.
