Sweetgreen is now valued at more than $1 billion

pulse

October 26, 2018 6:17 PM

Sweetgreen has grown rapidly since it launched in 2007. Now, after raising an additional $200 million, it is being valued at over $1 billion.

Sweetgreen
This round of funding will bring its total equity raised to approximately $365 million.

Sweetgreen, the fast-casual salad chain that's known for its cult-like following and drawing long lines during lunchtime hours, is now valued at over $1 billion.

On Tuesday, the chain announced it had raised $200 million in a round of funding led by Fidelity Investments, bringing its total funding to

Sweetgreen was launched in 2007 by Neman and his two Georgetown University classmates, Nathaniel Ru and Nicolas Jammet. Since then, it has expanded quickly, opening stores around the US and launching a mobile ordering platform to reduce long lunchtime lines.

As the company is private, it does not report sales numbers. According to Crunchbase, it has received $128.6 million in funding so far.

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