Sweetgreen, a Los Angeles, CA-based seasonal restaurant connecting people to real food, raised $200m in financing.
The round, which brought total equity raised to approximately $365m since inception and valued the company at over $1 billion, was led by Fidelity Investments.
The company intends to use the funds continue to invest in their supply chain, social impact, and technology, focusing on the following key areas:
– Digital Platform development,
– Supply Chain + Blockchain development,
– Restaurant Expansion in existing and new markets, including international expansion, and
– Outpost, its solution for free food delivery at the office which leverages its existing digital platform and mobile app to allow companies to offer sweetgreen to their employees,
– Social Impact, with plans to further its mission to “build healthier communities by connecting people to real food” by expanding its “sweetgreen in schools program”.
Founded in 2007 by Jonathan Neman, CEO, sweetgreen leverages a digital first approach to allow customers to access real food. Every day, across 90 restaurants, over 4,000 team members make food using fresh ingredients and produce delivered that morning.