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Spark Capital helps delivery service Postmates raise $16m

19 Feb 2014

postmatesVenture capital firm Spark Capital has led a $16m Series B round for Postmates to fund the on demand delivery service’s further growth and geographical expansion.

Postmates’s software dispatches and guides couriers through major metropolitan areas to deliver local goods including prepared food, groceries and retail goods.

The company previously raised $5m in a Series A round from FoundersFund and secured $1.75m in seed capital form investors including SoftTechVC and Matrix Partners.

Spark venture partner Nabeel Hyatt said, “We’re thrilled to be partnering with Postmates. They have a magical product and have proven this past year they know how to handle incredible growth while keeping quality high.

“(CEO Bastian Lehmann) and his team have created a service that not only puts your city in the palm of your hand, but it also does that while helping support the local businesses that make a city what it is.”

Last year Spark invested in Jelly Industries, a mobile technology startup launched by Twitter co-founder Biz Stone, alongside U2 lead singer Bono and former vice president of the US Al Gore.

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