NIB: Delivery Hero Serves Up Series E Round Worth $88m

By David Knight |

*** News In Brief ***

In a boost to Berlin’s reputation as a place for later-stage startups, food delivery platform Delivery Hero has revealed Series E financing worth a weighty $88 million (€64.5m). The round is being led by Insight Venture Partners, and the money will primarily be used to fuel growth in existing markets and on further innovation.

The round, described in a release as the “largest investment seen by the sector to-date,” sees the total amount invested into the company rise to nearly $200 million.

Known in Germany as Lieferheld, Delivery Hero has thrived in the face of heated competition and now offers its users the ability to order from 55,000 food outlets in 14 countries. The company also claims that some half a billion (presumably dollars) in sales are generated by 6 million customers, including on mobile, with revenue more than doubling in 2013 as it went into profit.

Delivery Hero CEO Niklas Östberg said: “Delivery Hero has a strong market position globally and we looked for an investor that could add to our ambitious vision. Insight Venture Partners has experience with marketplace businesses that are expanding internationally, and we believe their capabilities marry well with our long term vision.”

Jeff Lieberman, managing director at Insight Venture Partners, said: “We have been impressed by the drive, passion and dedication of the Delivery Hero team and what they’ve been able to accomplish. Under Niklas’ leadership we believe the company has the capability to win globally, providing online and mobile food ordering in all major markets worldwide.”