Delivery Hero raises $85 million
Delivery Hero is an online food delivery ordering service that has announced today it has raised $85 million in Series F funding, which was led by Luxor Capital Group. Delivery Hero plans to use the funding to defend its leading position in key markets, especially in its home market of Germany. The money will also go towards marketing and price discounts for customers.
“As a first step to defend our position in Germany, we will launch a permanent 25% promotion on selected restaurants for our users to try out,” he says. “Later this week we will also announce a media deal in Germany [valued at] high double-digit million Euros,” said Delivery Hero, via TechCrunch.
Delivery Hero raised around $285 million since launching in 2011 and over $170 million of this amount was this year alone.
One of Delivery Hero’s rival, Just-Eat, went public and raised $168 million. Just-Eat now has a market valuation of $1.36 billion.
Delivery Hero also eventually plans to go public. That will likely happen in 2015 or later.
Delivery Hero works with around 60,000 restaurants in its network across 14 countries. Its network of restaurants collectively generate over half a billion dollars in sales annually and 5 million meals are delivered each month.