News

Sweetgreen reaps $200M in funding effort

November 14, 2018

Seasonal fast casual brand sweetgreen reaped $200 million in its latest financing round which was led by Fidelity Investment.

The brand will use the funding to support technology, supply chain and social impact strategies, according to a press release, which stated the funding round values the brand at over $1 billion.

In total the brand has raised $365 million in equity.

"As a company we are focused on democratizing real food," said Jonathan Neman co-founder and CEO of sweetgreen, in the release. "Our vision is to evolve from a restaurant company to a food platform that builds healthier communities around the world."

The brand intends to focus on these key areas:

• Digital platform: With over a million people on its digital platform and almost 50 percent of customer orders processed through the app or online platforms, sweetgreen believes that software focused on personalization can help meet customers' growing demand for easily accessible, real food.
• Supply chain and blockchain: sweetgreen views blockchain as the most viable solution available to enable radical transparency at a systematic level, which in turn can create better tasting produce and insights around each ingredient, from seed to restaurant.
• Restaurant expansion: sweetgreen plans to expand its footprint in existing and new markets.
• Outpost: sweetgreen's free food delivery at the office leverages its digital platform and mobile app, and the company plans to expand the program.
• Social impact: sweetgreen plans to further its mission by expanding its "sweetgreen in schools program," which reimagines school cafeterias and food education.