Washington's Sweetgreen bags USD22 million investment from Revolution Growth
Sweetgreen has secured USD22 million in funding from Revolution Growth, an investment fund founded by Ted Leonsis, Donn Davis, and Steve Case. In addition, Case will join the company's board and advise its founders, according to TechCrunch.
Sweetgreen was founded in 2007 by Georgetown students Nicolas Jammet, Nathaniel Ru, and Jonathan Neman. Presently based in Washington, the farm-to-table salad chain has expanded with 22 locations on the East Coast including Maryland, Virginia, Philadelphia, New York City, and Boston, the report said.
Ru said Sweetgreen uses a platform called FarmersWeb to monitor its supply of local produce being sent to different regional outlets. The company also has a mobile app that allows clients to pre-order and pre-pay for their food. The customers can then pick up the ordered salads at local shops, the report explained.
Keeping consumer behavior in mind, Sweetgreen will use the new funding from Revolution to facilitate the growth of its brand in new markets, TechCrunch reported.