sweetgreen Secures Significant New Funding From Revolution Growth
Steve Case to Join Board
WASHINGTON, December 4, 2013-- sweetgreen, the fast-growing organic, farm-to-table salad shop founded in Washington, D.C., today announced a $22 million investment from Revolution Growth. As part of the investment, Revolution Growth co-founder and iconic entrepreneur Steve Case will join the company’s board and act as advisor to sweetgreen’s founders, Nicolas Jammet, Jonathan Neman and Nathaniel Ru. The investment will go towards national expansion of its stores in key markets, building its team and corporate culture, and growing community programs and marketing initiatives.
Founded in 2007 by the three Georgetown University graduates, sweetgreen was created from a belief that the community would benefit from a healthy, delicious, and eco-friendly dining option, with “food that fits” – your values, your budget, your tastes, your imagination, and your community. Their first shop in Georgetown quickly grew a cult-like following, and the threesome went on to open 22 additional locations in D.C., Virginia, Maryland, Philadelphia, Boston and NYC over the next 6 years. sweetgreen quickly became a local favorite not only for its delicious and healthy food, but also for its commitment to local farmers, the community, sustainability, and outstanding company culture. In addition to salads, sweetgreen’s menu includes grain bowls, wraps, seasonal soups and sides, and fresh pressed raw juice (sweetpress).
“We are incredibly proud to partner with Steve Case and Revolution Growth, a company that not only knows how to build and scale some of the most exciting brands, but embraces our core values,” said sweetgreen co-founders and co-CEOs Jammet, Neman, and Ru. “This investment will enable us to bring sweetgreen’s original vision to life in more communities across the country, continue to build an outstanding team of people, and support our local farmers and communities. It’s what we set out to do when we opened our first sweetgreen in Georgetown six years ago, and we could not be more excited for the company’s future.”
“Leveraging social marketing, local sourcing and community building, sweetgreen truly understands the power of thinking globally and acting locally to change the way business is done,” said Steve Case. “The company’s trajectory is proof that innovative, high-growth companies aren’t limited to the traditional tech and internet sector, and can be created anywhere in the United States.”
“And as Americans become increasingly concerned about health and wellness, we’re proud to invest in a brand that stands for healthier choices, with farm-to-table concept that supports local farmers while facilitating better diets,” Case added.
Next up for sweetgreen includes three recently announced openings: Tribeca in New York City (early spring), Center City in Philadelphia and the Yards in Washington, D.C.
As music has always been an important part of the sweetgreen experience, the company also founded the annual sweetlife music and food festival, which attracts 20,000 attendees with its curated line-up of cutting edge artists and food from top local chefs and farmers. The carbon-neutral event embraces good living, along with health and well-being, community and sustainability.
More than just a salad shop, the company is committed to the community and its employees, and has embraced design, and technology as well. sweetgreen has focused much of its philanthropic efforts on healthy eating in schools and created the sweetgreen in schools initiative. In an effort to offer perks to its loyal fans, the company also launched sweetgreen passport, which gives newsletter subscribers exclusive access to free fitness classes at top studios in their community.
sweetgreen also offers benefits to its guests and enables them to support community initiatives through its recently launched mobile payment and rewards app, which is now used by 20% of its guests. Available for free on iPhone and Android, the app allows guests to earn dollars that can be redeemed at any sweetgreen and offers various perks that can be unlocked over time, including 1% of dollars spent donated to local charities that promote healthy eating in schools. The company has also built a loyal online community on social networks with significant, engaged followings on Facebook, Twitter and Instagram.
sweetgreen’s shops are beautifully designed using green practices to minimize their environmental footprint. The stores are open, modern and clean so that the ingredients shine, and of-its-place, incorporating reclaimed materials such as hickory from old railroads, barn board pine, and bowling alley tables. By using compostable packaging, design details and furniture made from reclaimed materials, LED light fixtures, and wind energy offset credits to power the stores, sweetgreen continually aims to raise the bar in sustainable business practices
About Revolution Growth
Founded and led by Steve Case, Ted Leonsis, and Donn Davis, Revolution Growth invests in companies that can change the world. Its mission is to build disruptive, innovative businesses that offer consumers more choice, convenience, and control in their lives. By taking a long-term approach and developing a true, hands-on partnership with entrepreneurs and management teams, Revolution Growth brings a unique strategy and passion to investing in and building significant companies. For more information, visit www.revolution.com/growth.
Founded in 2007 by Georgetown University graduates Nicolas Jammet, Jonathan Neman and Nathaniel Ru, sweetgreen has become a favorite not only for its delicious and healthy food, but also for its commitment to local farmers, the community, sustainability, and outstanding company culture. They opened their first location, a 560-square foot space in Georgetown, in August 2007 – just three months out of college. The shop quickly grew a cult-like following and, over the next six years, the threesome went on to open 22 additional locations throughout Washington, D.C., Virginia, Maryland, Philadelphia, Boston and New York City. The company also founded sweetlife, an annual food and music festival that attracts a curated selection of cutting edge artists and 20,000 attendees – not to mention outstanding food from top chefs, food trucks, local purveyors and farmers. Over the years, sweetgreen has received numerous accolades from the press including The Washington Post, USA Today, Food & Wine, Forbes, Bloomberg, Washingtonian, CBS and NBC, among others, and the founders were voted Food & Wine’s “40 Big Thinkers Under 40,” Forbes’ “30 Under 30” and Refinery29’s “30 Under 30.”
Michelle Lehmann, 917-601-2460
Allyson Burns, 202-467-2059
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