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Postmates Secures $141 Million in a ‘Super, Super Difficult’ Fundraising Effort

The food delivery startup sold shares at the same price as its funding round last year.
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The Road Ahead for Postmates After $141M Funding Round

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Bastian Lehmann spent most of this year becoming acquainted with the feeling of rejection. The co-founder and chief executive officer of Postmates Inc. was trying to pitch a food delivery business to investors, just as venture capitalists were tightening their belts and cash-burning delivery startups were falling out of favor globally. "It was a super, super difficult fundraise for us," said Lehmann.

Today, Lehmann is pleased to say his company finally has more money in the bank. Postmates raised $141 million in a financing round led by Founders Fund. The San Francisco VC firm, co-founded by billionaire Peter Thiel, was already an investor but agreed to step up its support and add partner Brian Singerman to the board of directors. Postmates sold shares at the same price as last year's round. The company said the additional cash gives it a valuation of about $600 million.