In a press release, Deliveroo said the Series G round of venture funding also includes T. Rowe Price, Fidelity Management and Research Company, and Greenoaks as investors. Including the latest fundraising round, Deliveroo has raised $1.53 billion. According to The Wall Street Journal, Deliveroo was valued at $1.9 billion back in September of 2017 when it raised $482 million in a round of funding.
Proceeds from the funding will go to continue to build out its service, grow its engineering team base in London, create more high-skilled jobs and build on London’s reputation as a tech hub, Deliveroo said in the press release. The company also plans to spend the money to innovate in the food sector via initiatives such as “Editions,” its delivery-only kitchen, as well as new formats that enable restaurants to expand into new areas. Deliveroo is also working on developing new products that offer a more personalized experience for customers, increase support for restaurant partners and provide riders with new tools.
“This new investment will help Deliveroo to grow and to offer customers even more choice, tailored to their personal tastes, offer restaurants greater opportunities to grow and expand their businesses, and to create more flexible, well-paid work for riders,” said Will Shu, founder and CEO of Deliveroo. “Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organization.” Doug Gurr, Amazon’s U.K. country manager, said Amazon decided to invest in Deliveroo after being impressed with its approach and its focus on offering customers more food choices as delivery options. “Will and his team have built an innovative technology and service, and we’re excited to see what they do next,” said Gurr. For Amazon, this builds upon its international investments as it aims to dominate in the world of eCommerce and delivery across the globe.