Delivery Hero has closed a $30 million (€23m) Series D round led by Phenomen Ventures, a very large deal in Berlin terms. The round, which is also being supported by existing investors, comes as the company additionally revealed it will reach profitability this year.
The company is one of the world’s largest online food ordering platform, pulling in information from more than 35,000 restaurants in 14 countries. It will use the money primarily in strengthening its position in existing markets as well as further expansion.
The double news is a boost for Berlin-based Delivery Hero – known as Lieferheld in Germany – as it battles for supremacy in what is a very crowded space. But it is already a large company, generating more than €400 million in annual turnover.
CEO Niklas Östberg said: “Choosing the right investor is absolutely crucial. Having an investor with an entrepreneurial mindset makes a difference to us and we’re very happy to have Phenomen onboard.”
Fab.com and Hailo are among Phenomen’s previous investments, and founding partner Dmitry Falkovich said: “I’m amazed by the development over the past two years and excited to become a part of it.”
Team Europe, Kite Ventures, ru-Net, Tengelmann Ventures, Holtzbrinck Ventures, Point Nine Capital and Kreos Capital are all previous investors in Delivery Hero, which saw co-CEO and co-founder Fabian Siegel step down earlier this year.