Today we’re thrilled to announce that we have raised $535 million in a Series D financing led by SoftBank Group with participation from our existing investors Sequoia Capital, GIC and Wellcome Trust. We’re also proud to welcome SoftBank’s Jeffrey Housenbold and GIC’s Jeremy Kranz to DoorDash’s board.
The past year has been momentous for DoorDash, as we’ve innovated to find new ways to delight and serve our customers, merchants, and Dashers:
Last year we expanded to new markets from Philadelphia, to St. Louis, to Salt Lake City. In 2018, we’re expecting to nearly triple our geographic footprint from 600 to 1,600 cities. Just yesterday we launched Lexington and expanded throughout the greater Toronto area.
Our customers love the selection of dining options brought to their doors. We added leading national partners such as Wendy’s, Chick-Fil-A, Wingstop, IHOP and Five Guys, as well as regional stars such as Dig Inn, Tender Greens, Portillo’s and Modern Market. Customers can pick from over 100,000 restaurants on the platform and counting.
DoorDash created flexible work opportunities for Dashers who earned hundreds of millions of dollars last year. Whether saving money to buy soccer uniforms for their kids, paying for college tuition, or dashing to pay the electric bill, Dashers inspire us daily with the determination they show in achieving their goals.
DoorDash Drive, our innovative platform that enables merchants to offer delivery to customers that have placed orders directly with restaurants, grew by a whopping 1300% year-over-year. The best part is that DoorDash Drive can power deliveries other than food, whether for retail or beyond.
We evolved our brand to highlight human stories and implement initiatives to “deliver good” within our communities, including Project DASH and a partnership with Feeding America.
While we’ve made strides towards our vision of building the best last-mile logistics solution for our partners, we’re just getting started. The fact remains that only 5% of restaurant orders are placed online today. The opportunity to do more for our merchants, customers and Dashers is huge and we couldn’t be more excited to take on this challenge.
And if you’re as inspired by this mission as we are, join us!