Salad Chain sweetgreen Raises $150 Million

September 25, 2019 | Venture Capital

Salad restaurant chain sweetgreen, which has a cult-like following, raised $150 million at a valuation of $1.6 billion.

sweetgreen’s latest funding round was co-led by Lone Pine Capital and D1 Capital Partners. Existing investors also participated.

sweetgreen’s vision and disruption

Founded in 2007 by Nicolas Jammet, Jonathan Neman and Nathaniel Ru, the fast-casual restaurant chain sources only sustainable ingredients.

sweetgreen describes itself as a destination for simple, seasonal and healthy food.

It’s mission: “We’re in the business of feeding people, and we’re out to change what that means.”

It currently operates 97 restaurants and has over 4,000 team members who make and serve the food.

In the funding announcement, the company said it intended to explore new retail formats and elevate the consumer experience.

How sweetgreen will use the money

The company will use the money to invest in technology, data, supply chain, and social impact. It will also develop mobile dining (“the next phase for the future of food”).

sweetgreen intends to expand to new cities in 2020, including Miami, Denver, and Austin.

It will introduce a delivery app in 2020 which will allow customers to order food wherever they are.

The company, therefore, plans to connect with its customers through delivery and at physical restaurant locations.

Its Outpost service, which makes free deliveries at offices, has been a runaway success. A year ago Outpost served 13 locations, but that has already grown to 400.

sweetgreen expects this number to climb to 600 by the end of the year.

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.

Alt Insights

January 29, 2020

Venture Capital: The Kobe in “Bryant Stibel & Co”

Venture Capital: The Kobe in “Bryant Stibel & Co”

Latest Alternative Investment News
Digital Assets: A Cloud-based, Turnkey Crypto Exchange Solution From Binance
February 18, 2020     Digital Assets

Binance, which is the world’s largest crypto exchange by trading volume, announced Monday the launch of its Binance Cloud. The Binance Cloud is an all-in-one solution for crypto market participants…
Venture Capital: Polychain Capital to Raise $200M To Back Crypto Startups
February 18, 2020     Digital Assets, News, Venture Capital

Polychain Capital’s second venture fund, which targets a war chest of $200 million, opened at the beginning of 2020. The crypto venture fund is accepting minimum investments of $1 million…
Artificial Intelligence: Margrethe Vestager to Announce the EU’s New Regulations For AI Today
February 18, 2020     Artificial Intelligence, Latest News, News

The EU’s rules set to be announced today will thrust on enhancing the region’s competitiveness but will do so with an emphasis on transparency, oversight, and protection of privacy.
Liquid Alternatives: American Century May Unveil the Very First Non-Transparent ETFs
February 18, 2020     Latest News, Liquid Alternatives, News

Two American Century funds may be the first to test waters as “actively managed” ETFs. Having received the SEC’s approval for its final key filing, Cboe BZX Exchange, Inc. is…

Scroll to Top