Fast casual chain Sweetgreen has announced the closing of a $150 million financing round, and intends to invest the money in emerging technology.
The chain, which was launched in 2007 says this marks its latest development with regards to rethinking the customer experience and challenging traditional ways of what it means to be a fast food company.
Jonathan Neman, co-founder and CEO of Sweetgreen, said: “We’re building a new type of food company and a sustainable supply chain to challenge how we think about real food, explore innovative new retail formats, and elevate the consumer experience.
“This foundation will allow us to push boundaries and broaden our impact, doing even more with our suppliers, partners, and technology so that together we can bring about industry-wide change.”
The capital enables Sweetgreen to make strategic investments in technology, data, supply chain, and social impact.
To meet the expectations of its evolving customer base, it will test and deploy emerging technologies and new models, including: rapid growth of Outpost, a solution for free delivery at offices; expansion into new cities including Miami, Denver and Austin; the launch of Sweetgreen delivery; and investment in social impact.