sweetgreen, a Los Angeles, CA-based food company, closed a $150m financing round.
The round, which valued the company at $1.6 billion, was co-led by Lone Pine Capital and D1 Capital Partners with participation from existing investors.
The company intends to use the funds to enhance and expand Outpost, a solution for free delivery at offices, to expand into new cities including: Miami, FL, Denver, CO and Austin, TX, launch delivery on its own app in 2020 creating another channel to meet customers wherever they are, and continue to support FoodCorps’ work in schools and cafeterias.
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Launched in 2007 by Jonathan Neman, CEO, sweetgreen operates 97 restaurants, employing over 4,000 people who make food using fresh ingredients and produce delivered that morning.