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.