Postmates Secures $300M in Funding
Third-party delivery service Postmates has raised $300 million led by Tiger Global Management LLC.
Postmates offers delivery from more than 250,000 businesses in 400 U.S. cities and Mexico City. With this funding, Postmates will broaden coverage to over 70% of U.S. households by the end of the year; unleash new point-of-sale integration technologies; deploy API tools (offering white-glove delivery services to non-brick-and-mortar retail partners at scale); scale social impact investments & new workforce development policies; and invest in R&D to devise new last-mile mobility solutions.
As part of this round, Tiger Capital's Scott Schleifer joins the Postmates board of directors.
Postmates also revealed its Postmates 'Unlimited' doubled the total number of subscribers since 2017. Since it's unveiling, Unlimited has grown 300% year over year, with 1 in 2 orders on the platform now being placed via Unlimited across multiple markets.