Total amount raised
$472.4 Millions
Latest funding date
September, 2019
Location
Sweetgreen has successfully raised significant capital through multiple funding rounds, attracting a diverse group of investors. The company has garnered support from notable investors such as D1 Capital Partners and Lone Pine Capital.
Keep reading to delve into the details of Sweetgreen's funding journey and discover the key players backing this innovative fast-casual restaurant chain.
What Is sweetgreen?
Sweetgreen, founded in 2007 in Washington, D.C., is a fast-casual restaurant chain specializing in healthy salads and grain bowls. The company was established by Jonathan Neman, Nathaniel Ru, and Nicolas Jammet.
Sweetgreen emphasizes using fresh, whole produce delivered daily to create their menu items from scratch. They offer a variety of salads and bowls featuring ingredients like roasted chicken, kale, and quinoa.
With a workforce of 5001-10000 employees, Sweetgreen continues to grow, providing catering services and a mobile app for convenient ordering.
How Much Funding Has sweetgreen Raised?
- Series C
- Amount Raised: $6.9M
- Date: Mar 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the restaurant chain's footprint and enhance its menu offerings.
- Series D
- Amount Raised: $22M
- Date: Dec 2013
- Lead Investors: Revolution
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and technology integration.
- Series E
- Amount Raised: $18.5M
- Date: Nov 2014
- Lead Investors: Revolution
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and enhance digital capabilities.
- Series F
- Amount Raised: $35M
- Date: Jul 2015
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve supply chain logistics.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: Sep 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support long-term strategic initiatives.
- Series G
- Amount Raised: $40M
- Date: Aug 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel national expansion and enhance customer experience.
- Series G
- Amount Raised: Not publicly disclosed
- Date: Mar 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and innovation in the fast-casual dining space.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: May 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To explore new business opportunities and partnerships.
- Series H
- Amount Raised: $200M
- Date: Nov 2018
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series I
- Amount Raised: $150M
- Date: Sep 2019
- Lead Investors: D1 Capital Partners, Lone Pine Capital
- Valuation at Round: $1.6B
- Motivation Behind the Round: To support expansion and food-delivery plans.
Total Amount Raised: $472.4M. Current Valuation: $1.6B.
Key Investors
- D1 Capital Partners
- Details: D1 Capital Partners is a global investment firm that deploys capital in both public and private markets. Founded by Daniel Sundheim, the firm focuses on long-term investments.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: SpaceX, Instacart, Stripe.
- Lone Pine Capital
- Details: Lone Pine Capital is a hedge fund founded by Stephen Mandel in 1997. The firm is known for its concentrated equity investments.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Amazon, Alphabet, Shopify.
- Fidelity
- Details: Fidelity Investments is a multinational financial services corporation. It offers investment management, retirement planning, portfolio guidance, and brokerage services.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Tesla, Uber, Airbnb.
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm founded in 1937. The firm provides mutual funds, subadvisory services, and separate account management.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Facebook, Microsoft, Alibaba.
- Revolution
- Details: Revolution is a venture capital firm founded by Steve Case, co-founder of AOL. The firm focuses on investing in companies outside of traditional tech hubs.
- Investment Focus Areas: Consumer, healthcare, technology.
- Notable Investments: DraftKings, Zipline, BigCommerce.
What's Next for sweetgreen?
Sweetgreen's future looks promising with significant opportunities on the horizon. The company plans to expand into new markets such as Austin, Denver, and Miami, leveraging its tech-driven approach to enhance customer experience and streamline operations. This expansion is backed by a substantial $150 million investment, positioning Sweetgreen to capitalize on the growing consumer demand for healthy, convenient food options.
Future fundraising opportunities seem likely, given the positive investment climate in the food and beverage sector. Sweetgreen's focus on technology and expansion makes it an attractive candidate for additional venture capital. However, the company may face challenges such as maintaining quality across new locations and competing with other tech-savvy food chains. Despite these hurdles, Sweetgreen's strategic growth initiatives and strong financial backing suggest a bright future ahead.
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