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DoorDash valuation soars to $12.6B after $600M funding round

California-based delivery platform DoorDash Inc. on May 23 said it raised $600 million from a Series G funding round, valuing the company at approximately $12.6 billion.

SoftBank Vision Fund LP, Sequoia Capital, Darsana Capital Partners LP and Sands Capital Management participated in the round alongside Coatue Management LLC, Dragoneer Investment Group LLC, Temasek and DST Global.

DoorDash said its business grew 60% since the close of its series F funding round in February, which raised $400 million and brought its valuation to $7.1 billion.

The logistics startup said its gross merchandise volume in its most recent quarter soared 280% year over year to $7.5 billion. During the quarter, DoorDash also expanded to over 4,000 cities in the U.S. and Canada.

In the same period, DoorDash teamed up with Wyndham Hotels & Resorts in a food delivery partnership across 3,700 hotels.

DoorDash currently lists over 340,000 partner stores on its platform, including restaurants like Wingstop Inc. and Chipotle Mexican Grill Inc. and grocers like Walmart Inc.