Delivery Hero, one of the largest global providers of online and mobile food ordering websites, today announced a Series E financing of €64.5 million led by Insight Venture Partners. The Berlin-based startup, which was founded in 2010, will primarily use the funds to fuel growth in its existing markets and expand its position as an innovation leader.
The new round of capital represents the largest investment seen by the sector to-date and brings the overall investment in Delivery Hero close to €146.5 million. Using prior investment, Delivery Hero has grown to provide online and mobile ordering capability for more than 55,000 restaurants in 14 countries including Germany, Sweden, UK, Korea, China and India. Delivery Hero’s restaurant partners generate more than half a billion in annual sales via orders from more than 6 million happy consumers, who use the company’s online service or mobile applications. The company also just stated that it grew revenue by more than 100% in 2013 and became profitable by the end of the year. Today, Delivery Hero has more than 700 employees around the world with 300 staff working from its Berlin headquarters.
Niklas Östberg, CEO of Delivery Hero, commented: “Delivery Hero has a strong market position globally and we looked for an investor that could add to our ambitious vision. Insight Venture Partners has experience with marketplace businesses that are expanding internationally, and we believe their capabilities marry well with our long term vision.”
Jeff Lieberman, Managing Director at Insight Venture Partners, added: “We have been impressed by the drive, passion and dedication of the Delivery Hero team and what they’ve been able to accomplish. Under Niklas’ leadership we believe the company has the capability to win globally, providing online and mobile food ordering in all major markets worldwide.”
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