Total amount raised
$472.4 Million
Latest funding date
9/1/2019
Location
Sweetgreen has successfully raised funds through 14 rounds, with the latest being a Series I round. The company has attracted notable investors, including D1 Capital Partners and True Ventures.
Keep reading to explore the intricacies of Sweetgreen's fundraising journey and the investors backing this innovative platform.
What Is sweetgreen?
Sweetgreen is a fast-casual restaurant chain headquartered in Washington, D.C., specializing in simple, seasonal, and healthy salads and grain bowls. The company operates within the Food and Beverage, Organic Food, and Restaurants industries.
Founded by a team of passionate individuals, Sweetgreen has grown significantly and now employs between 5001 and 10000 people. The company is public and listed on the NYSE under the ticker symbol SG.
Sweetgreen aims to inspire healthier communities by offering fresh, sustainable, and high-quality ingredients. They also provide catering services and have a program tailored for remote workers.
How Much Funding Has sweetgreen Raised?
- Series C
- Amount Raised: USD 6,900,000
- Date: March 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion efforts.
- Series D
- Amount Raised: USD 22,000,000
- Date: December 2013
- Lead Investors: Revolution
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the restaurant chain and enhance its offerings.
- Series E
- Amount Raised: USD 18,500,000
- Date: November 2014
- Lead Investors: Revolution
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enter new markets.
- Series F
- Amount Raised: USD 35,000,000
- Date: July 2015
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and improve customer experience.
- Private Equity
- Date: September 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives.
- Series G
- Amount Raised: USD 40,000,000
- Date: August 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new locations and enhance digital capabilities.
- Series G
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and improve supply chain efficiency.
- Series Unknown
- Date: May 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and development.
- Series H
- Amount Raised: USD 200,000,000
- Date: November 2018
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and enhance technological infrastructure.
- Series I
- Amount Raised: USD 150,000,000
- Date: September 2019
- Lead Investors: D1 Capital Partners, Lone Pine Capital
- Valuation at Round: USD 1,600,000,000
- Motivation Behind the Round: To support expansion and food-delivery plans.
Total Amount Raised: USD 471,400,000. Current Valuation: USD 1,600,000,000.
Key Investors
- D1 Capital Partners
- Details: D1 Capital Partners is an investment firm that manages capital across public and private markets. They participated in Sweetgreen's Series I funding round.
- Investment Focus Areas: Public markets, private markets, long-term growth opportunities.
- Notable Investments: SpaceX, Stripe, Robinhood.
- Lone Pine Capital
- Details: Lone Pine Capital is a private investment management company focusing on long-term investments in public and private companies. They co-led Sweetgreen's Series I funding round.
- Investment Focus Areas: Technology, consumer goods, high-growth sectors.
- Notable Investments: Amazon, Google, Facebook.
- True Ventures
- Details: True Ventures is a venture capital firm that invests in early-stage technology startups. They have been involved in Sweetgreen's financing rounds.
- Investment Focus Areas: Early-stage technology startups, innovative companies, disruptive technologies.
- Notable Investments: Fitbit, Peloton, Blue Bottle Coffee.
- Fidelity
- Details: Fidelity is a multinational financial services corporation known for its investment management and brokerage services. They led Sweetgreen's Series H funding round.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Not publicly disclosed.
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm that provides a broad array of mutual funds, subadvisory services, and separate account management. They led Sweetgreen's Series F funding round.
- Investment Focus Areas: Mutual funds, retirement plans, institutional investments.
- Notable Investments: Not publicly disclosed.
What's Next for sweetgreen?
Sweetgreen's future looks promising with significant opportunities for expansion and technological enhancement. The recent $150 million funding round, led by Lone Pine Capital and D1 Capital Partners, positions the company to enter new markets like Austin, Denver, and Miami. This capital influx also allows Sweetgreen to enhance its food-delivery services and streamline operations through advanced technology.
As the fast-casual dining sector continues to grow, Sweetgreen is well-placed to attract further investment. The company's focus on healthy, convenient food options aligns with current industry trends, making it an attractive prospect for future fundraising rounds. However, challenges such as maintaining quality across multiple locations and navigating a competitive landscape remain.
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