Deliveroo, the on-demand delivery service for high-quality restaurant meals, has announced a $70m Series C investment round led by Greenoaks Capital and Index Ventures, with participation from existing investors Accel and Hoxton Ventures. The investment will be used to accelerate Deliveroo’s international expansion and continue to strengthen Deliveroo’s position as the leading player in this space.
Launched in 2013, Deliveroo is focused on providing the ‘ultimate food delivery experience’. While the majority of food delivery businesses are online marketplaces for takeaway restaurants, some of which have their own drivers, Deliveroo unlocks new choices by partnering with high-quality restaurants that typically don’t offer delivery. Its proprietary end-to-end technology and logistics platform enables an on-demand model where customers can easily order meals that are delivered directly to their doors by Deliveroo’s team of drivers and cyclists in an average of 32 minutes.
Website or app ordering from 2,000+ restaurants
Customers can use the website or the Deliveroo mobile app to order from a variety of high-quality independent and chain restaurants near them. Deliveroo’s hyper-local approach has flourished in areas with high population density and quality restaurants.
By partnering with Deliveroo, restaurants can leverage their excess kitchen capacity and existing locations to generate revenue increases of 30% or more. Over 2,000 restaurants are currently delivering through the platform, including Busaba Eathai, Gourmet Burger Kitchen, MEATLiquor and Wagamama.
Rapid growth
The Series C follows on quickly from a $25m Series B raised in January of this year. Since then, the business has grown daily orders by 500% and partnered with its first Michelin-starred restaurant, Trishna, in London. It has also launched its service in France, Germany and Ireland and increased its UK reach to 18 towns and cities across the country.
The Deliveroo app, released in the UK earlier this month, topped the App Store’s food and drink chart and was named Best New App and Editor’s Choice in a matter of days.
Deliveroo will use the new funding to build on this success, and is planning to expand into new markets in Europe, the Middle East and Asia, while continuing to rollout in its existing markets. It will invest in all areas of the business that support this, including technology, operations and marketing.
Loved by its restaurants and customers
As part of the investment, Greenoaks Capital’s Benny Peretz joins the board. Peretz said: “The team at Deliveroo is fanatical about delivering great food. They’ve assembled an extensive network of delicious restaurants and matched it with innovative engineering, data science, and logistics capabilities to provide unparalleled food quality and rapid delivery times. Deliveroo has built a truly seamless and delightful dining experience. It’s rare to see a company so loved by its restaurants and customers.”
About Deliveroo
Deliveroo is an end-to-end food delivery service that brings high-quality local restaurant food to homes and offices through a proprietary technology and logistics platform. Founded in 2013 by William Shu and Greg Orlowski, the company delivers dishes from leading independents, such as Michelin-starred Trishna and Ollie Dabbous’s Barnyard, to high-quality chain restaurants including Busaba Eathai, Gourmet Burger Kitchen, MEATLiquor and Wagamama. To date, Deliveroo has raised $100m from investors including Accel, Greenoaks Capital, Hoxton Ventures, Index Ventures and JamJar Investments.
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