Today, we are announcing that we are raising approximately $400 million in a Series H financing led by new investors Durable Capital Partners LP and Fidelity Management & Research Co., and existing investors, funds and accounts advised by T. Rowe Price Associates, Inc.
We are thrilled to team up with investors who share our mission to empower local economies. The investment, which also includes support from many of our existing investors, values DoorDash at almost $16 billion.
“DoorDash has pioneered a unique logistics platform that facilitates the delivery of food, groceries, and household essentials and has become ingrained in the lives of local communities as an essential service. We are excited to invest in this excellent team,” said Henry Ellenbogen of Durable Capital Partners LP. “More important than ever, DoorDash is innovating on products and services that power local commerce and enhance their larger community including Dashers, customers, and merchants. We believe in this company and the team.”
DoorDash understands that the world has changed. We continue to have a responsibility to the communities we serve – it’s one we take seriously each and every day. This capital will support new products and services that help our merchants manage the changed operating environment, offer customers convenient and safe ways of ordering and shopping, and enable Dashers to continue making meaningful, flexible income when they need it most.
Last month, we launched Main Street Strong, which includes a suite of programs, products, and policies geared towards helping our restaurant partners navigate the new normal and drive sales on the road to recovery. As part of this program, we have introduced new products like DoorDash Storefront, which enables restaurants to create their own online stores at the click of a button and seamlessly fulfill orders placed online.
Today, the opportunity to do more for our merchants, Dashers, and consumers is bigger than ever, and we’re excited to continue leading from the front.