DoorDash raises $400M

Gunderson Dettmer client DoorDash has raised $400 million in Series F funding in a round led by Temasek and Dragoneer Investment Group. Existing investors SoftBank, DST Global, Coatue Management, GIC, Sequoia Capital and Y Combinator also participated in the financing. The funding came at a $7.1 billion valuation. 

In the funding announcement, DoorDash Co-founder and CEO Tony Xu said the new funding will allow the company to continue investing in DoorDash Drive, which allows businesses to use the DoorDash network for their own deliveries, and its subscription service DashPass.

Gunderson Dettmer’s deal team was led by Ivan Gaviria and included Robin Stenerson and Neil Toomey.