DoorDash, a San Francisco, CA-based restaurant delivery platform, raised $535m in Series D funding.
The round was led by the SoftBank Group with participation from existing investors Sequoia Capital, GIC and Wellcome Trust. In conjunction with the funding, SoftBank’s Jeffrey Housenbold and GIC’s Jeremy Kranz will join Sequoia’s Alfred Lin and Kleiner Perkins’ John Doerr on DoorDash’s board of directors.
The company plans to use the funds to continue to expand operations and its business reach and continue to develop its products.
Founded in 2013 by CEO Tony Xu, DoorDash connects customers with local and national businesses in more than 600 cities across the United States and Canada. In 2017, the company added partners such as Wendy’s, Chick-Fil-A, Wingstop, IHOP and Five Guys to its set of national partners including The Cheesecake Factory, Jack In The Box, Buffalo Wild Wings and P.F. Chang’s. The company now plans to continue to grow DoorDash Drive, the platform that enables a merchant to offer delivery to customers that have placed orders directly with the restaurant.