Niklas Östberg's startup has raised so many rounds of funding that he has almost lost track.
"I think officially we're probably on Series, oh, did we do H maybe?" says Östberg, cofounder and CEO of Delivery Hero, an online food-ordering service. Series H turns out to be the right answer. Delivery Hero periodically receives what Östberg calls "small" investments of $5 million to $20 million from individual investors. It gets hard to remember which round an investor joined.