DoorDash, a San Francisco, CA-based last-mile logistics platform, raised $400m in Series F financing.
The round, raised at a $7.1 billion valuation, was co-led by Temasek and Dragoneer Investment Group with participation from existing investors Softbank Vision Fund, DST Global, Coatue Management, GIC, Sequoia Capital, and Y Combinator.
The company intends to use the funds to further accelerate its growth, to reach new consumers and empower local businesses across America, continue developing innovative products and services, and enhance the capabilities of its last-mile logistics platform.
Founded in 2013 by Tony Xu, CEO, DoorDash is a last-mile logistics platform that connects customers with local and national businesses in more than 3,300 cities across the United States and Canada. The company allows merchants to grow their businesses by offering on-demand delivery, data-driven insights, and in-store efficiency.
The funding follows 12 months in which DoorDash broadened its coverage to more than 3,300 cities, becoming the first on-demand platform to operate in all 50 states, and launched its subscription service.