Total amount raised
$284.1 Millions
Latest funding date
Location
Grubhub has successfully raised significant funding from notable investors such as Amazon and Yum!, positioning itself as a key player in the online food delivery market.
Keep reading to explore the intricacies of Grubhub's fundraising journey and the investors backing this innovative platform.
What Is Grubhub?
Grubhub, founded in 2004 in Chicago, Illinois, is an online platform that connects customers with local restaurants. The company was established by Jason Finger, Matt Maloney, and Mike Evans.
Grubhub allows users to find and order food from local restaurants for delivery or pickup, offering a variety of meal options and tools for restaurant owners to reach more customers.
With a workforce ranging from 1001 to 5000 employees, Grubhub has grown significantly since its inception, becoming a key player in the online food delivery market.
How Much Funding Has Grubhub Raised?
- Series A
- Amount Raised: $1.1M
- Date: November 2007
- Lead Investors: Origin Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and expand the service to more cities.
- Series B
- Amount Raised: $2M
- Date: March 2009
- Lead Investors: Leo Capital Holdings, Origin Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the technology platform.
- Series C
- Amount Raised: $11M
- Date: November 2010
- Lead Investors: Benchmark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve service offerings.
- Series D
- Amount Raised: $20M
- Date: March 2011
- Lead Investors: Benchmark, DAG Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and market expansion.
- Series E
- Amount Raised: $50M
- Date: September 2011
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the acquisition of Dotmenu and strengthen presence in the college market.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: August 2013
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To prepare for an initial public offering (IPO).
- Post-IPO Equity
- Amount Raised: $200M
- Date: February 2018
- Lead Investors: Yum!
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand partnerships and enhance delivery capabilities.
- Post-IPO Equity
- Amount Raised: Not publicly disclosed
- Date: July 2022
- Lead Investors: Amazon
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage Amazon's logistics and technology for improved service delivery.
Total Amount Raised: $284.1M
Current Valuation: Not publicly disclosed
Key Investors
- Amazon
- Details: Amazon is a multinational technology company based in Seattle, Washington. It is known for its e-commerce platform, cloud computing services, and digital streaming.
- Investment Focus Areas: E-commerce, cloud computing, artificial intelligence.
- Notable Investments: Rivian, Deliveroo, Ring.
- Yum! Brands Inc.
- Details: Yum! Brands Inc. is an American fast-food corporation headquartered in Louisville, Kentucky. It operates well-known brands such as Taco Bell, KFC, and Pizza Hut.
- Investment Focus Areas: Fast food, restaurant chains, food services.
- Notable Investments: Taco Bell, KFC, Pizza Hut.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm that focuses on early-stage investments in the technology sector. It is based in Menlo Park, California.
- Investment Focus Areas: Technology, consumer, enterprise, cleantech.
- Notable Investments: Snapchat, Nest, DoubleClick.
- Benchmark
- Details: Benchmark is a venture capital firm that invests in early-stage technology companies. It is headquartered in San Francisco, California.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: eBay, Twitter, Uber.
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm based in Baltimore, Maryland. It offers mutual funds, subadvisory services, and separate account management for individuals, institutions, and retirement plans.
- Investment Focus Areas: Mutual funds, retirement plans, institutional investments.
- Notable Investments: Not publicly disclosed.
What's Next for Grubhub?
Grubhub's future looks promising with significant opportunities on the horizon. The acquisition of Dotmenu has positioned Grubhub to dominate the college market, providing access to 250,000 restaurant menus across major cities and college towns. This expansion, coupled with the growing trend of mobile food orders, sets the stage for substantial growth in the online food delivery sector.
As Grubhub continues to scale, future fundraising opportunities, including a potential IPO, could provide the necessary capital to further enhance its technology and expand its market reach. However, challenges such as integrating new acquisitions and maintaining market leadership in a competitive industry will require strategic planning and execution.
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