On-demand delivery service Postmates nabs $16M to explore new markets

Same-day delivery service Postmates has raised a $16 million in a second round of institutional funding. The fresh cash will be sed to launch in new cities.

Led by Spark Capital, this new round comes 13 months after the San Francisco-based startup’s $5 million first round of venture capital funding. With fresh capital, Postmates plans to “expand geographically” beyond the four cities it current serves — San Francisco, New York City, Seattle and DC.

According to CEO Bastian Lehmann, Postmates “has nearly 2,000 active Postmates couriers on the platform.” We’re also told that Postmates currently serves north of 10,000 deliveries per week. In total, the company has raised over $22 million.