Greenoaks and Index lead Deliveroo’s $70m series-C

Existing investors Hoxton Ventures and Accel also participated in the round, bringing the total amount raised by the company to $100m.

The fresh funding will help launch the company into new markets in the EMEA region, as well as expand its presence in existing markets.

The investment follows a recent trend of substantial later-stage funding rounds, such as the $526m round for Spotify and $275m series-E. The same trend is apparent looking only at the food delivery space, which remains popular with VCs.

In June, online food delivery platform Delivery Hero raised $110m from two investors, giving it a valuation of more than $3.1bn, and last year Rocket Internet-owned Foodpanda raised $60m.

Online delivery service pioneer Just-Eat, backed by Index and Vitruvian, among others, further consolidated the market in June: it acquired two Italian competitors, just a year after the company raised £360m in its London IPO.

Previous funding
Deliveroo most recently raised capital in January, when Accel Partners led a $25m series-B for the company, in which existing backers Index Ventures, Hoxton Ventures and Hummingbird Ventures also participated.

That round followed from a June 2014 series-A in which Deliveroo raised £2.75m from Index and Hoxton, among other investors.

Company
Founded in February 2013 and headquartered in London, Deliveroo operates a food delivery platform for high-street restaurant chains and independent restaurants. It currently has agreements with brands including Nando's, Busaba and MeatLiquor.

Orders through Deliveroo are GPS-tracked and time-stamped at each stage. The company says the average delivery time for orders is 32 minutes. It makes use of freelance drivers and cyclists to implement its service.

People
Greenoak's Benny Peretz will join Deliveroo's board as part of the deal. Martin Mignot led the deal for Index Ventures. William Shu is the CEO of Deliveroo.

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• Topics
• UK / Ireland
• Expansion
• Consumer
• United Kingdom
• Index Ventures
• Accel Ventures
• Vitruvian Partners
• Late stage funding