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On-demand delivery service Postmates nabs $16M to explore new markets

Image Credit: Postmates

Same-day delivery service Postmates has raised a $16 million in a second round of institutional funding. The fresh cash will be sed to launch in new cities.

Led by Spark Capital, this new round comes 13 months after the San Francisco-based startup’s $5 million first round of venture capital funding. With fresh capital, Postmates plans to “expand geographically” beyond the four cities it current serves — San Francisco, New York City, Seattle and DC.

According to CEO Bastian Lehmann, Postmates “has nearly 2,000 active Postmates couriers on the platform.” We’re also told that Postmates currently serves north of 10,000 deliveries per week. In total, the company has raised over $22 million.

More about the companies and people from this article:

Spark Capital is a venture fund based in Boston, Massachusetts. Our investment focus is on the conflux of the media, entertainment and technology industries. Spark Capital invests in companies that it believes will benefit from the rap... read more »

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