Postmates operated as an online hyperlocal on-demand delivery platform enabling users to get food, groceries, alcohol, household supplies, and retail goods delivered quickly across U.S. cities. The platform connected customers with independent couriers who fulfilled local deliveries from restaurants, stores, and markets.
With seamless in-app ordering, delivery tracking, and an expanding merchant ecosystem, Postmates became one of the biggest players in the convenience and food delivery category.
What Is Postmates and What Does It Do?
Postmates, founded in 2011 by Baastian Lehmann, Sean Plaice, and Sam Street, is headquartered in San Francisco, United States. The company operated as an online platform providing on-demand hyperlocal delivery services.
Postmates employs 1,317 employees, offering delivery of groceries, food, beverages, household supplies, kitchen essentials, retail items, and more through its mobile and web platform.
Known for pioneering urban logistics, the company played a defining role in modern food delivery and last-mile fulfillment before being acquired by Uber.
How Much Funding Has Postmates Raised?
1. Private Equity Round
- Amount Raised: $225M
- Date: September 2019
- Lead Investors: GPI Capital
- Motivation: Bridge financing ahead of an IPO; to strengthen marketing, expand services, and scale national operations.
2. Series F
- Amount Raised: $100M
- Date: January 2019
- Lead Investors: BlackRock, Glynn Capital Management, Tiger Global Management
- Motivation: To enhance market reach, expand the merchant ecosystem, and strengthen competitive positioning.
3. Series E
- Amount Raised: $300M
- Date: September 2018
- Lead Investors: Tiger Global Management
- Motivation: To improve technology infrastructure and accelerate expansion across major U.S. cities.
4. Series D
- Amount Raised: $80M
- Date: June 2015
- Lead Investors: Tiger Global Management
- Motivation: To scale the delivery network and expand operational capabilities.
5. Series C
- Amount Raised: $35M
- Date: February 2015
- Lead Investors: Harmony Partners, Spark Capital
- Motivation: To expand into new cities and strengthen logistics operations.
6. Series B
- Amount Raised: $16M
- Date: February 2014
- Lead Investors: Spark Capital
- Motivation: To grow the user base, improve delivery logistics, and enhance product features.
Total Funding Raised: $903 Million
Latest Funding Date: September 2019
Key Investors
1. GPI Capital
- Details: A late-stage private equity firm known for significant minority stakes in high-growth private companies.
- Investment Focus Areas: Late-stage technology, consumer digital platforms.
2. Tiger Global Management
- Details: A global investment firm active across public and private markets, with a strong record in internet and consumer tech.
- Investment Focus Areas: Internet, software, consumer tech, fintech.
- Notable Investments: Facebook, LinkedIn, Spotify.
3. Spark Capital
- Details: Prominent venture capital firm investing in media, entertainment, and technology companies.
- Investment Focus Areas: Media, consumer internet, marketplaces, software.
- Notable Investments: Twitter, Oculus, Slack.
4. Founders Fund
- Details: Venture capital firm known for backing transformative early-stage technology companies.
- Investment Focus Areas: Space, deep tech, software, and consumer.
- Notable Investments: Facebook, SpaceX, Palantir Technologies.
Where Is Postmates’ Headquarters?
Postmates was headquartered in San Francisco, California, a major global center for high-growth startups, logistics innovation, and consumer technology. The location provided access to technical talent, transportation infrastructure, and established delivery markets.
What’s Next for Postmates?
Postmates now operates under Uber, integrating its delivery network, merchant partnerships, and logistical capabilities into Uber Eats. The acquisition strengthens Uber’s strategy to dominate last-mile delivery. While the Postmates brand still operates in certain regions, its technology and infrastructure now fuel Uber’s broader ambitions in autonomous delivery, marketplace expansion, and hyperlocal logistics.
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