Sweetgreen

Sweetgreen

A restaurant chain serving organic salads and grain bowls.

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.

Funding

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.

Timeline

November 13, 2018

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.

Funding rounds

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People

Name
Role
LinkedIn

Andrew "Drew" Koven

Investor

Avi Karnani

Investor

Brian Fenty

Investor

Bryan Lalezarian

Investor

Deanna Arthur

Employee

Dennis Baldwin

Investor

Haroon Mokhtarzada

Investor

Hooman Radfar

Investor

Jared Hecht

Investor

Jeff Foster

Investor

Jonathan Neman

Co-Founder, Co-CEO

Jonathan Shokrian

Investor

Kal Vepuri

Investor

Nathaniel Ru

Co-Founder, Co-CEO

Nicolas Jammet

Co-Founder

Randy Brandoff

Investor

Scott Birnbaum

Investor

Steve Martocci

Investor

Stewart Allen

Investor

Thomas Chapman

Employee

Tom Chapman

Employee

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References

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