In one of the largest investments in European food-ordering market has seen up to date, Berlin-based giant Delivery Hero has secured a round E funding of $88 million from investors led by Insight Venture Partners, increasing overall funding to almost $200 million.
Delivery Hero, a major player in food takeout sector since it was founded in 2010, competes in now a very heated-up market, with almost 55,000 food outlets in 14 countries on board. Its main competitor in Europe, London-based Just Eat has more than 40,000 restaurants signed up in 13 countries.
Branded as ‘Lieferheld’ in Germany, Delivery Hero doubled its overall sales in 2013 to exceed half a billion USD with around 6 million customers ordering food online or mobile. 2013 is also the year when it went into profit.
In an official post, Delivery Hero CEO Niklas Östberg says Insight Venture Partners has experience with marketplace businesses that are expanding internationally and they believe IVP’s capabilities match perfectly with their long term vision. Jeff Lieberman of Insight Venture Partners confirms confidence in DH saying that the German startup will soon be providing online and mobile food ordering in all major markets worldwide.