The company said it will primarily use the funds to fuel growth in its existing markets. The new round of capital represents the largest investment seen by the sector to-date and brings the overall investment in Delivery Hero close to $200m.
Delivery Hero has grown to provide online and mobile ordering capability for more than 55,000 restaurants in 14 countries including Germany, Sweden, UK, Korea, China and India.
Niklas Östberg, CEO of Delivery Hero, 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.”
Delivery Hero investors include Insight Venture Partners, Kite Ventures, Team Europe, ru-Net, Tengelmann Ventures, Holtzbrinck Ventures, Point Nine Capital and Phenomen Ventures.
Insight Ventures holds a stake of between 15 and 20 per cent, with Delivery Hero joining portfolio companies including Twitter, Tumblr and Indiegogo. Most recently the firm led a $42m Series C financing round for social media data business DataSift.
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