Accel and Index take part in $385m Deliveroo round

The deal values the company at around $2bn. Existing investors DST Global, General Catalyst, Index Ventures and Accel Partners made follow-on investments.

The funding will be used to expand the company's Deliver Editions programme of delivery-only kitchens, grow the technology team that will work on its logistics algorithms and artificial intelligence systems, and fund expansion into new cities and countries.

Previous funding
In August 2016, Bridgepoint led a $275m series-E round, valuing the company between $800m-1bn. The funding round was co-led by existing investors DST Global and General Catalyst, while returning backer Greenoaks Capital also participated.

Prior to Bridgepoint's investment, Deliveroo had raised four funding rounds since June 2014, when it received £2.75m of capital from Hoxton Ventures. Hoxton was joined by Accel, Index and Hummingbird in January 2015, when the VC syndicate injected $25m in Deliveroo's series-B.

The startup completed its series-C six months later, raising $70m from existing backers and Greenoaks Capital. Deliveroo's series-D saw it raise $100m from its existing venture backers.

Company
Founded in 2013 and based in London, Deliveroo is a local delivery service allowing customers to order food from restaurants that do not operate their own delivery service. It operates across 84 cities in 12 countries, employing 20,000 riders to deliver food from 16,000 restaurant partners. The company employs 800 people in its own offices. Its revenues grew by 611% to £129m in 2016. 

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• Topics
• Expansion
• UK / Ireland
• Consumer
• Index Ventures
• Access Capital Partners
• Venture