As its competitors flounder, on-demand delivery startup Postmates announced an $80 million raise today led by Tiger Global, bringing the company’s total funding to date near $140 million. Postmates may raise $1.2 million more, the company revealed in a public filing this morning.
This new round values the company at $450 million or more, a source familiar with the company tells VentureBeat.
Today’s announcement arrives shortly after competitor Wunwun bit the dust. Before that, eBay’s local delivery ambitions unraveled. Meanwhile, potential competitors like Uber have only tiptoed into Postmates’ territory.
With $80 million more, Postmates is clearly gearing up to challenge its last few real threats: Instacart, Google, and Amazon. Will the dream of Kozmo 2.0 live on? It certainly will for now; the dream has more runway.
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Postmates tells us Slow Ventures also participated in today’s round.
