Sweetgreen is a restaurant chain serving organic salads and grain bowls that is headquartered in Washington, D.C. and was founded in 2007 by Jonathan Neman, Nathaniel Ru, and Nicolas Jammet.
Financing round I
On November 13, 2018 Sweetgreen announced raising $200 million in financing from Fidelity Investments (lead investor) and other investors. The company plans on using their funding to further develop its mobile application, open new restaurant locations, expand its outpost service, and start a no-fee delivery system for corporate offices.
At the time of receiving their funding Sweetgreen has over 1 million people on its digital platform and almost 50% of customer orders are being processed through the companies mobile application or online platform.
Financing round II
On September 23, 2019 Sweetgreen announced raising $150 million in financing from Lone Pine Capital (lead investor), D1 Capital Partners (lead investor), and other existing investors. At the time of receiving their financing Sweetgreen had a valuation of $1.6 billion. The company plans on using their funding to strategically develop its technology, data, supply chain, and social impact strategies. Sweetgreen will also be using the financing to develop a mobile application for food delivery, and plans on launching the application in 2020.
Sweetgreen Announces its Second Act with $200 Million in Financing Led By Fidelity Investments
LOS ANGELES--(BUSINESS WIRE)--Sweetgreen, the seasonal restaurant with the mission of connecting people to real food, today announced a $200 million financing round led by Fidelity Investments, one of the world's largest asset management companies.
Andrew "Drew" Koven
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