Yummy: Steve Case Invests $22 Million in...a Salad Startup
BY Abigail Tracy
The entrepreneur's Revolution Fund has invested a large sum in the Washington D.C.-based salad chain, Sweetgreen.
Sweetgreen just got some green--courtesy of Steve Case’s Revolution Fund.
The fund, started by Case and two former AOL colleagues, announced its $22 million investment in the Washington D.C.-based salad chain startup on Wednesday. Case said he thinks the startup has a lot of potential to become a popular restaurant chain, as reported by the New York Times.
“I do think there will be a Chipotle equivalent in the healthy dining category. I think Sweetgreen is well positioned to be that iconic brand in this next wave,” Case told the outlet.
Case will join the startup’s board and act as an advisor to the founders. There are currently 22 Sweetgreen locations scattered across the east coast. The outlet reported that the company plans to use the new capital to open more locations. New York, Boston and Philadelphia are amongst the next cities Sweetgreen plans to infiltrate.
Nicolas Jammet, Jonathan Neman and Nathaniel Ru--all Gerorgetown University graduates--started the company back in 2007, with a focus on local produce, sustainability and healthy living. The team has incorporated creative marketing, advertising and customer engagement tactics in the past--it even launched its own food and music festival, Sweetlife Festival back in 2010.