On-demand food delivery service Deliveroo recently announced a AU$361 million Series E investment, led by Bridgepoint, existing investor DST Global, and General Catalyst with participation from existing investor Greenoaks Capital.
Since its Series D round in November, Deliveroo has achieved over 400 per cent growth and reached profitability in a number of its established markets.
It has also launched in 29 new cities, added an additional 9,000 new restaurant partners, and created opportunities for 6,500 riders, all while continuing to improve its already strong customer retention rates and maintaining a 30 minute average delivery time.
The company has also hit key milestones such as expanding its service to cover breakfast, express lunch, alcohol and corporate ordering, and striking deals in Australia with major partners such as Jamie’s Italian, Ribs & Burgers, and Guzman Y Gomez.
Where is the latest funding to be directed?
The new funds will be used to expand the service in both new and existing markets, as well as provide further investment in projects such as RooBox, a pioneering remote kitchen initiative.
RooBox gives restaurants access to delivery-only kitchens in key locations, accelerating geographic expansion.
“After seeing strong growth in the markets we launched in November, our new focus is to drive further innovation in food delivery. In particular, I’m excited about exploring completely new ways to solve the hardest problems restaurants face when offering delivery,” commented Will Shu, Founder and CEO of Deliveroo.
“RooBox is the first illustration of this approach, and innovations like these are at the heart of our mission. We’re proud and honoured to have the support of Bridgepoint, DST Global and General Catalyst in this endeavour,” he further explained.
How is Deliveroo changing food delivery?
The award-winning company, which was founded in 2013 by Shu and Greg Orlowski, seeks to change the way the world thinks about food delivery, working with world-class brands as well as over 20,000 riders and great independent restaurants to provide customers with the best possible food delivery experience.
Australian Country Manager, Levi Aron said, “Since launching in Melbourne, Sydney, and Brisbane over the last 10 months, the adoption of Deliveroo in Australia, across all our restaurants and customers, has been nothing short of phenomenal.
“Deliveroo continues to strive and bring the latest technological and data driven innovations to the restaurant industry, including our newest rollout called RooBox.”
“This technology, together with all the great people on our teams, has helped drive the increased month-on-month growth, whilst further cementing our position in the Australian market,” he concluded.