DoorDash raises $400 million in Series H financing

DoorDash has announced that it has raised approximately $400 million in Series H financing led by new investors Durable Capital Partners LP and Fidelity Management & Research Co., and existing investors, funds, and accounts advised by T. Rowe Price Associates. The investment values the company at almost $16 billion.

“DoorDash has pioneered a unique logistics platform that facilitates the delivery of food, groceries, and household essentials and has become ingrained in the lives of local communities as an essential service. We are excited to invest in this excellent team,” said Henry Ellenbogen of Durable Capital Partners LP.

This capital will support new products and services that help DoorDash’s merchants manage the changing operating environment, offer customers convenient and safe ways of ordering and shopping, and enable Dashers to continue making meaningful, flexible income when they need it most.

Last month, the company launched Main Street Strong, which includes a suite of programs, products, and policies geared toward helping its restaurant partners navigate the new normal and drive sales on the road to recovery. As part of this program, it has introduced new products like DoorDash Storefront, which enables restaurants to create online stores and seamlessly fulfill orders placed online.