Postmates, the Chipotle and Starbucks Delivery Partner, Raises $80 Million

Postmates, the delivery startup that counts Chipotle, Apple and Starbucks among its partners, has raised an $80 million investment led by the investment firm Tiger Global.

Postmates manages a network of delivery people who ferry goods, mostly prepared food, from local stores to customer homes within an hour. While the company has historically offered this delivery service through its app with no cooperation from the restaurant or store, it has recently signed exclusive deals with the likes of Starbucks and Chipotle to help improve efficiency and service. Postmates makes money by charging delivery and service fees and taking a cut of orders from certain merchants.

In a blog post, CEO Bastian Lehmann said the new money will help Postmates expand geographically and into new delivery categories beyond food. Tiger Global’s Lee Fixel is joining the company’s board.

(Update: An earlier version of this story described Tiger Global as a hedge fund. While Tiger Global does operate a hedge fund, it was its venture capital business that invested in Postmates.)

This article originally appeared on Recode.net.

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