Today, Cava, the Washington, D.C.-based Mediterranean fast-casual restaurant and packaged food brand, announced a $30 million Series C funding with existing partners Revolution Growth, Invus, and Swan & Legend.
The new investment will help fund Cava’s expanded growth with three new markets in 2018 including Boston, in addition to further growth in their current markets including six new locations in the Greater New York City area in 2017.
Cava has 27 restaurant locations in the greater Washington, D.C. area, Los Angeles and Orange County, and New York City. Cava’s packaged dips and spreads are sold in over 200 Whole Foods Market locations up and down the east coast, in the Midwest, and southern California.
“The Cava brand continues to build momentum as the leading Mediterranean culinary brand in our restaurant space. We’re thrilled to be closing our Series C funding round with existing partners who have supported us from the beginning,” says Cava CEO Brett Schulman. “This investment will help to fund our restaurant expansion as well as support ongoing innovation and new product lines in our packaged food business.”
The investment follows the $45 million Series B funding round in September 2015 led by existing investor Invus, with Swan & Legend and Revolution Growth also participating.
Cava brings modern, Mediterranean flavors to a casual setting for customers who want affordable, convenient food without compromising on quality and nutrition. Inspired by their Greek roots, founders and childhood friends Ted Xenohristos, Ike Grigoropoulos, and Chef Dimitri Moshovitis created Cava’s culinary driven, flavorful, and healthful menu for a diverse customer.