A SoftBank Group Corp.-led group of investors committed US$535 million in a Series D funding for San Francisco-based food delivery service DoorDash Inc.
The financing round also included existing investors such as Sequoia Capital, Singapore's GIC Pvt. Ltd. and Wellcome Trust.
DoorDash's board of directors will now include SoftBank's Jeffrey Housenbold and GIC's Jeremy Kranz, who will join Sequoia's Alfred Lin and Kleiner Perkins Caufield & Byers' John Doerr, according to a March 1 press release.
Founded in 2013, DoorDash is expected to expand from 600 to 1,600 cities across the U.S. and Canada in 2018, as well as hire over 250 people throughout its corporate offices.
