Sweetgreen raises $200m to pursue blockchain salad bars

Sweetgreen just became a unicorn after raising $200m, as it looks to dabble in Blockchain and double down on its delivery game.


November 14, 2018

Fast-casual salad chain Sweetgreen announced what the company is calling its “second act” with a $200m financing round led by Fidelity Investments.

The round brings the green-slinger’s total funding to around $365m at a $1B valuation — and phase 2 involves a lot more than salad dressing.

This unicorn’s been eating its greens

Co-founded in 2007, the company has amassed a cult following among American millennials throughout 90 locations across 8 states, but salads are so 2018 — even for… a salad company.

Co-founder Jonathan Neman told Forbes that with the new funding, the company looks to go “beyond a food company” and become a full-fledged platform. And, you know what that means… blockchain.

Blockchain salads? 

Shouldn’t we figure out crypto’s volatility first? 

WHO CARES?! The Hollywood Bowl is delicious.

Sweetgreen’s calling card is fast food with fresh-sourced, healthy ingredients, and they plan to use blockchain to beef up their supply chain for the ultimate farm-to-salad-bar experience. 

The company is also doubling down on delivery by personalizing each app to its specific user. Almost 50% of customer orders are processed through Sweetgreen’s app because, as Sweetgreeners know, they don’t allow you to pay with cash.

Daily briefings, straight to your inbox

Business and tech news in 5 minutes or less

Join over 1 million people who read The Hustle

Psst

How'd Bezos build a billion dollar empire?

In 1994, Jeff Bezos discovered a shocking stat: Internet usage grew 2,300% per year.

Data shows where markets are headed.

And that’s why we built Trends — to show you up-and-coming market opportunities about to explode. Interested?

Join us, it's free.

Look, you came to this site because you saw something cool. But here’s the deal. This site is actually a daily email that covers the important news in business, tech, and culture.

So, if you like what you’re reading, give the email a try.