Total amount raised
$763 Millions
Latest funding date
09/01/2019
Location
Postmates has successfully raised significant funding over multiple rounds, culminating in its acquisition by Uber for $2.7 billion. The platform offers on-demand delivery services for food, groceries, and more.
Keep reading to explore the intricacies of Postmates' fundraising journey and the investors backing this innovative platform.
What Is Postmates?
Postmates, founded in March 2011, is an on-demand delivery platform based in San Francisco, California. The company was established by Bastian Lehmann, Sam Street, and Sean Plaice.
Postmates offers delivery services for food, groceries, and alcohol, providing access to a wide range of local restaurants and retailers. The platform also offers gift cards for purchases on Uber, Uber Eats, or Postmates.
With a workforce of 1001-5000 employees, Postmates has grown significantly since its inception, culminating in its acquisition by Uber in 2020.
How Much Funding Has Postmates Raised?
- Private Equity Round
- Amount Raised: $225M
- Date: September 2019
- Lead Investors: GPI Capital
- Valuation at Round: $2.4 billion
- Motivation Behind the Round: The funding served as bridge financing to support marketing efforts and expansion ahead of a potential IPO.
- Series F
- Amount Raised: $100M
- Date: January 2019
- Lead Investors: BlackRock, Glynn Capital Management, Tiger Global Management
- Valuation at Round: $1.85 billion
- Motivation Behind the Round: To enhance market reach and scale operations in preparation for an IPO.
- Series E
- Amount Raised: $300M
- Date: September 2018
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and improve technology infrastructure.
- Series D
- Amount Raised: $80M
- Date: June 2015
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance service offerings.
- Series C
- Amount Raised: $35M
- Date: February 2015
- Lead Investors: Harmony Partners, Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand delivery services and enter new markets.
- Series B
- Amount Raised: $16M
- Date: February 2014
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow the customer base and improve delivery logistics.
Total Amount Raised: $756M
Current Valuation: $2.4 billion
Key Investors
- GPI Capital
- Details: GPI Capital is a New York-based private equity firm that invests in late-stage private companies, often taking stakes up to 20%. Khai Ha from GPI Capital joined the Postmates board following their investment.
- Investment Focus Areas: Late-stage private companies, publicly listed ventures.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on both private and public companies in the global Internet, software, consumer, and financial technology industries. They have been a consistent investor in Postmates across multiple funding rounds.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- BlackRock
- Details: BlackRock is a global investment management corporation known for its broad investment portfolio across various sectors. They participated in Postmates' Series F funding round.
- Investment Focus Areas: Broad investment management across various sectors.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in startups in the media, entertainment, and technology sectors. They have been involved in multiple funding rounds for Postmates.
- Investment Focus Areas: Media, entertainment, technology.
- Notable Investments: Twitter, Oculus, Slack.
- Founders Fund
- Details: Founders Fund is a venture capital firm known for investing in early-stage technology companies. They have a representative on the Postmates board.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Facebook, SpaceX, Palantir Technologies.
What's Next for Postmates?
Postmates stands at the cusp of significant growth opportunities, bolstered by its recent $225 million funding round. This capital injection positions the company to expand its market share and explore innovative delivery solutions, such as autonomous robotic delivery. The food delivery market's expansion offers a fertile ground for Postmates to increase its footprint, particularly in key areas like Los Angeles.
As Postmates prepares for its IPO, future fundraising opportunities are likely to arise, providing additional capital to fuel its growth. The company may attract further investments from private equity firms, enhancing its valuation and market position. However, the path ahead is not without challenges. Intense competition from larger rivals and the need for substantial marketing expenditures to maintain market share could pose significant hurdles. Financial sustainability remains a concern, as the company is yet to achieve profitability.
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