Cava Grill, the Washington, D.C.–based Mediterranean fast-casual restaurant, announced a $16 million Series C funding round led by existing partner SWaN & Legend Venture Partners and including new strategic partners.
This new investment will help fund Cava Grill’s growth including expanding to Los Angeles, the first city outside their home market, in 2015. Cava Grill will also be expanding their product line of dips and spreads in Whole Foods Markets beyond the Mid-Atlantic and Northeast to the Chicago and the Midwest region this year.
“We’re incredibly grateful to have the support of such accomplished business leaders working with us to bring Cava to more neighborhoods and communities, not only in our home market, but cities across the country,” says Brett Schulman, Cava’s CEO.
Cava Grill brings modern Mediterranean flavors to a casual setting for budget, time, health, and taste-conscious customers. Inspired by their Greek roots, founders Ted Xenohristos, Ike Grigoropoulos, and Chef Dimitri Moshovitis created Cava’s culinary driven, flavorful, and healthful menu for a diverse customer.
“What started in a small full-service restaurant in 2006 has grown beyond what we ever imagined,” says co-founder Ted Xenohristos. “We built Cava on heritage and heart and are excited for the opportunity to bring this inspiration through our food to a wider audience.”
“Cava is among a select few of true breakout fast casual brands and we’re incredibly excited to work with such an innovative team. Starting with an outstanding corporate culture, their integrative approach to food and technology will have a vast impact on how people combine nutrition, flavor, and affordability,” says Todd Klein, managing director and CIO of SWaN & Legend Venture Partners. “The company is a true leader, not only in [its] fast-growing market, but food in general. We’re proud to be Cava’s partner for the next phase of their success.”
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