Funding News

Postmates raises $70 million in new round

On Thursday, on-demand delivery startup Postmates filed forms with the SEC indicating that they had raised a $73 million+ round. The company indicated, on said form, that they were seeking an $81M round, and thus have around $8M more to raise. The round was led by Tiger Global.

Postmates is an interesting company. As similar services are folding at a rapid pace, Postmates is thriving. The company raised the round against a $450 million valuation, to give you some idea.1 They are well on their way to fufilling their mission: “to become the on-demand delivery infrastructure for every major city in the world.”2

Postmates-app Postmates raises $70 million in new round

Currently, Postmates operates in more than 75 cities across the U.S. The whole idea behind the company is that they will deliver you just about any product or food from within the city in less than one hour. It is sort of a GrubHub for everything:

Postmates is transforming the way local goods move around a city by enabling anyone to get any product delivered in under one hour. Postmates’ revolutionary urban logistics & on-demand delivery platform connects customers with local couriers, who purchase and deliver goods from any restaurant or store in a city.3

  1. Harrison Weber, VentureBeat, “On-demand delivery startup Postmates now valued at more than $400M after $80M raise,” 25 June 2015  
  2. Postemates, “About”  
  3. Postemates, “About”