Online food delivery business GrubHub has raised $50m in Series E funding led by Lightspeed Ventures alongside Mesirow Financial, Benchmark Capital, Greenspring Associates and DAG Ventures.
The investment will allow the company to “aggressively focus on its mobile development”, it said.
In addition it has GrubHub also acquired New York-based Dotmenu, the parent company of Campusfood and Allmenus. Through the acquisition, GrubHub will have the largest restaurant listing in the country with 250,000 restaurant menus in over 50 major cities and countless college towns across the US.
The financing comes just six months after GrubHub raised $20m in funding led by DAG Ventures.
“By combining its ability to aggressively scale its footprint and mobile platforms with Dotmenu’s proven leadership in college markets across the country, GrubHub is the clear leader in the online ordering space,” said Bill Gurley, general partner of Benchmark Capital. “This move will make GrubHub a household name, such as Benchmark’s other on-line portfolio companies OpenTable, Yelp and Zillow.”
“GrubHub and Dotmenu have a shared vision to make online and mobile food ordering easier and more efficient for diners and restaurants,” added Matt Maloney, GrubHub founder and CEO. “The acquisition is a natural fit for us and we are extremely excited to be able to share our mobile capabilities with their expansive network of diners and restaurants. This is an amazing opportunity for both companies.”
Copyright © 2011 AltAssets