GrubHub, a Chicago, IL-based web and mobile service that connects diners to restaurants and simplifies online ordering for delivery and pick up, has raised $50m in Series E funding.
This round was led by Lightspeed Ventures, with participation from Mesirow Financial, Benchmark Capital, Greenspring Associates and DAG Ventures.
Earlier n 2011, GrubHub raised $20m in a funding round led by DAG Ventures (read here). In November 2010, the company had secured $11m in Series C round (read here).
The company intends to use the funds for mobile development and acquire New York-based Dotmenu www.dotmenu.com, the parent company of Campusfood and Allmenus (for an undisclosed amount).
Through the acquisition, GrubHub will have a large restaurant listing with 250,000 restaurant menus in over 50 major US cities and college towns across the US.
founded in 2004 by CEO Matt Maloney and Mike Evans, GrubHub shows consumers all of the local restaurants that deliver to them and allows diners to order directly online, by phone or through free iPhone and Android apps. The service is free for diners who order and pay with cash, credit or PayPal. Restaurants pay commissions for each online order they receive from GrubHub. Every order is supported by a 24/7 customer service.
The company currently services Chicago, New York, Los Angeles, San Francisco, Boston, Philadelphia, Washington D.C., San Diego, Orange County, Oakland, Seattle, Portland, Denver, Boulder, Miami, Dallas, Fort Worth, Houston, and Phoenix, with plans to add more cities in 2011.