Total amount raised
$2.1 Billions
Latest funding date
11/1/2019
Location
DoorDash has successfully raised significant capital through multiple funding rounds, securing its position as a key player in the food delivery industry. The company's strategic fundraising efforts have attracted a diverse group of investors, fueling its growth and expansion.
Keep reading to explore the intricacies of DoorDash's fundraising journey and the investors backing this dynamic platform.
What Is DoorDash?
DoorDash, founded in 2013, is a leading food delivery service based in San Francisco, California. The company connects customers with local restaurants, grocery stores, and convenience stores, offering a wide range of delivery options.
Founded by Tony Xu, Stanley Tang, Andy Fang, and Evan Moore, DoorDash has grown rapidly since its inception. The platform also provides opportunities for delivery drivers, known as Dashers, and merchants to partner with the service.
With a workforce of over 3,000 employees, DoorDash continues to expand its services, including package pickup, flower delivery, and more, making it a versatile player in the delivery industry.
How Much Funding Has DoorDash Raised?
- Series B
- Amount Raised: $40M
- Date: March 2015
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and improve delivery logistics.
- Series C
- Amount Raised: $127M
- Date: March 2016
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology infrastructure.
- Venture Round
- Amount Raised: Not disclosed
- Date: September 2017
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and market expansion.
- Series D
- Amount Raised: $535M
- Date: March 2018
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Secondary Market
- Amount Raised: Not disclosed
- Date: April 2018
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Series E
- Amount Raised: $250M
- Date: August 2018
- Lead Investors: Coatue, DST Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance delivery services and expand product offerings.
- Series F
- Amount Raised: $400M
- Date: February 2019
- Lead Investors: Dragoneer Investment Group, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and new service launches.
- Series G
- Amount Raised: $600M
- Date: May 2019
- Lead Investors: Darsana Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen market position and invest in technology.
- Series G Extension
- Amount Raised: $100M
- Date: November 2019
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth momentum and prepare for IPO.
- Series H
- Amount Raised: $400M
- Date: June 2020
- Lead Investors: Durable Capital Partners
- Valuation at Round: Nearly $16 billion
- Motivation Behind the Round: To support new products and services, and adapt to the COVID-19 pandemic.
Total amount raised: $2.852 billion. Current valuation: Nearly $16 billion.
Key Investors
- Durable Capital Partners
- Details: Durable Capital Partners is an investment firm focused on long-term growth opportunities. They have a strong track record in identifying high-potential companies.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: DoorDash, Amazon, Google.
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm known for its disciplined approach to investing. They manage a wide range of mutual funds and other investment products.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Amazon, Facebook, Google.
- Darsana Capital Partners
- Details: Darsana Capital Partners is an investment firm that focuses on both public and private markets. They are known for their strategic investments in high-growth companies.
- Investment Focus Areas: Technology, consumer goods, financial services.
- Notable Investments: Uber, Airbnb, DoorDash.
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a growth-oriented investment firm. They specialize in partnering with management teams to build enduring companies.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Airbnb, Spotify, DoorDash.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is one of the largest technology-focused investment funds in the world. They invest in innovative companies that are shaping the future.
- Investment Focus Areas: Technology, telecommunications, energy.
- Notable Investments: Uber, WeWork, DoorDash.
What's Next for DoorDash?
As DoorDash looks to the future, the company is poised to capitalize on the growing demand for food delivery services, a trend accelerated by the COVID-19 pandemic. With a valuation nearing $16 billion, DoorDash plans to develop new products and services to support merchants and offer customers more convenient and safe ordering options. This expansion presents a significant opportunity for growth, potentially leading to further fundraising efforts, including a long-anticipated IPO.
However, DoorDash faces challenges such as managing increased demand and ensuring the safety of its services. Competition from other food delivery platforms also remains a hurdle. Despite these obstacles, DoorDash's strong capital base and strategic investments position it well for continued success in the evolving market.
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