Delivery Hero raises $88m

The substantial funding round brings the total amount raised by Delivery Hero to close to $200m.

The fresh capital will be used to expand the company in its existing markets.

Previous funding
Delivery Hero first received funding in March 2011, securing €4m from Holtzbrinck Ventures, Point Nine Capital and Tengelmann Ventures.

This was followed in October of the same year by an €11m investment from Kite Ventures. In March 2012, Kite invested a further €25m in the company, according to unquote" data.

The three investors from Delivery Hero's first round returned with Kite in August 2012 to inject a further €40m into the company, alongside new backers Hasso Plattner Ventures and Kreos Capital. Kite led the round.

The company's most recent funding round took place in July last year, when Holtzbrinck, Kite, Point Nine, Kreos and Tengelmann returned with lead investor Phenomen Ventures to invest $30m (approximately €23m) in Delivery Hero.

Company
Founded in 2010, Delivery Hero is headquartered in Berlin and currently employs more than 700 staff. The company generated turnover of around $400m in 2012. Its revenues doubled in 2013, according to the company.

Delivery Hero operates a global network of online and mobile restaurant sites providing take-away services. The company, which claims to have more than 55,000 restaurants on its network, is present in 14 countries, across Europe, Australia, South Korea, China, India and Mexico.

People
Niklas Östberg is the CEO of Delivery Hero. Jeff Lieberman is a managing director at Insight.

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• Topics
• DACH
• Expansion
• Technology
• Germany
• Holtzbrinck Ventures
• Kreos Capital