Postmates has raised $100 million from new investor BlackRock and a group of existing backers that includes Tiger Global, valuing the company at $1.85 billion, per Recode. News emerged in December that the delivery startup had hired JPMorgan to advise it on an IPO, which could occur during 1H. The round comes less than four months after Postmates last raised cash, pulling in $300 million at a valuation of nearly $1.1 billion in September.
All in all, the Bay Area business has now raised more than $640 million in VC funding from dozens of backers, including Founders Fund, Matrix Partners and Spark Capital. Postmates is one of several major startups that could go public in 2019, a list that also includes Uber, Lyft, Palantir Technologies and Pinterest. The new capital from BlackRock comes on the same day the money management giant announced plans to lay off roughly 500 workers, or about 3% of its staff.