Cava, a Washington, D.C.-based Mediterranean fast-casual restaurant concept and Consumer Packaged Goods (CPG) brand, raised $45m in Series B funding.
The round was led by Invus with participation from existing partner Swan & Legend Ventures as well as Revolution Growth.
The company intends to use the funds for growth including new markets and locations on both the east and west coasts, conduct technology initiatives and advancements, support community partnerships, and enhance team member benefits.
Led by CEO Brett Schulman, Cava Grill operates fast-casual restaurants that bring Mediterranean flavors inspired by the Greek roots of Ted Xenohristos, Ike Grigoropoulos, and Chef Dimitri Moshovitis, who created the company’s culinary menu.
Cava Grill has 11 locations in the Washington, D.C. metro area (Bethesda, Tenleytown, Columbia Heights, Tysons, Merrifield, Chinatown, Westfield Montgomery Mall, the Kentlands neighborhood in Gaithersburg, Fairfax, Reagan DCA, and Ashburn) and is set to open the first of several restaurants in the Los Angeles area this month. Cava products are sold in over 200 Whole Foods Market locations up and down the east coast, in the midwest, and will soon arrive in southern California.