Companies · Restaurants

Sweetgreen, Inc.

Culver City · Restaurants

Diligence memoA one-page analyst read on Sweetgreen, Inc. — recommendation, valuation, rhythm, risks.
$123.3M
Total raised · real
9
Rounds
1.1×
Latest step-up
Top 2%
Sector rank · raised
Series B
Latest stage · inferred · Mon Aug 15 2016 00:00:00 GMT+0000 (Coordinated Universal Time)

Sweetgreen, Inc. looks over-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the restaurants sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Over-valued
  • Modeled value is 2.44× the median modeled value of Series B Restaurants companies in 2016–2018 (11 peers) — value vs value, same stage and era.
Dormant
  • Last raise 9.9 yr ago; this sector typically re-raises about every 13 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Restaurants

Sweetgreen, Inc. is one of 2292 Restaurants companies tracked from Culver City. By capital raised it ranks among the largest (ahead of 99% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
50
Investors (latest)
2016-08-15
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$50M$100M$150M$200MPre-Seed · 2009-11-18 Raised $835K (real) Modeled valuation $3.7M (est)Pre-Seed2009Seed · 2010-09-30 Raised $2.2M (real) Modeled valuation $7.6M (est)Seed2010Seed · 2011-03-11 Raised $400K (real) Modeled valuation $1.4M (est)Seed2011Seed · 2012-02-02 Raised $3.2M (real) Modeled valuation $11M (est)Seed2012Series A · 2013-03-15 Raised $7.0M (real) Modeled valuation $20M (est)Series A2013Series B · 2013-12-03 Raised $22M (real) Modeled valuation $69M (est)Series B2013Series B · 2014-11-07 Raised $13M (real) Modeled valuation $40M (est)Series B2014Series B · 2015-06-30 Raised $35M (real) Modeled valuation $110M (est)Series B2015Series B · 2016-08-15 Raised $40M (real) Modeled valuation $126M (est)Series B2016+$2.2M+$400K+$3.2M+$7.0M+$22M+$13M+$35M+$40MCumulative $123M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Pre-Seed$835K · 2009
Seed$2.2M · 2010
Seed extension$400K · 2011
Seed extension$3.2M · 2012
Series A$7.0M · 2013
Series B$21.9M · 2013
Series B extension$12.7M · 2014
Series B extension$35.0M · 2015
Series B extension$40.0M · 2016

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$125.7M
Base estimate est.
$84.0M
Conservative case
$483.8M
Upside case
$222.2M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the restaurants sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $3.7M · 2009-11-182009Seed · modeled $7.6M · 2010-09-30Seed · modeled $1.4M · 2011-03-11Seed · modeled $11.3M · 2012-02-02Series A · modeled $20.0M · 2013-03-15Series B · modeled $69.0M · 2013-12-03Series B · modeled $40.1M · 2014-11-07Series B · modeled $110.0M · 2015-06-30Series B · modeled $125.7M · 2016-08-152016
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
57%
Survival probability
38% low · 70% high
1.00×/yr
Annual markup
1.21×/yr upside case
6.0 yr
Elapsed time used
9.9 yr actual, capped for stale marks
restaurants
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
10 mo
Avg between rounds
$18.3M/yr
Capital velocity
16.6 yr
On record since
2009
First round
9
Rounds on file
How it compares to the market

Benchmarked against 2292 companies in Restaurants. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 137× above median
This company$123.3M
Sector median$900K
Latest round — vs other Series B rounds in sector (real $, this stage) 2.0× above median
This company$40.0M
Sector median$19.9M
Modeled value — vs sector median (estimate, all stages) 48× above median
This company$125.7M
Sector median$2.6M

Raised more than 99% of sector peers (real $). Modeled value above 99% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #1 of 11.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)MOD Super Fast Pizza Holdings, LLC · Series B Raised $139.8M · modeled $99.6M (est)BC Hospitality Group Inc. · Series B Raised $31.0M · modeled $97.4M (est)Big Night Venues Boston Harbor Parent, LLC · Series B Raised $20.0M · modeled $62.9M (est)Big Causeway LLC · Series B Raised $18.0M · modeled $56.6M (est)Mercado Investor LLC · Series B Raised $16.4M · modeled $51.5M (est)Alexanders Steakhouse Inc · Series B Raised $15.1M · modeled $47.4M (est)Veggie Grill, Inc. · Series B Raised $39.3M · modeled $31.4M (est)Matchbox Food Group, LLC · Series B Raised $25.9M · modeled $31.4M (est)Eat Here Brands LLC · Series B Raised $36.0M · modeled $6.4M (est)Fitness Food Holdings, Inc. · Series B Raised $64.1M · modeled $6.3M (est)Sweetgreen, Inc. (this company) Raised $123.3M · modeled $125.7M (est)Sweetgreen, Inc.
CompanyStageRaised · realValue · estvs peer med.
Sweetgreen, Inc. this companySeries B$123.3M$125.7M2.44×
MOD Super Fast Pizza Holdings, LLCSeries B$139.8M$99.6M1.93×
BC Hospitality Group Inc.Series B$31.0M$97.4M1.89×
Big Night Venues Boston Harbor Parent, LLCSeries B$20.0M$62.9M1.22×
Big Causeway LLCSeries B$18.0M$56.6M1.10×
Mercado Investor LLCSeries B$16.4M$51.5M1.00×
Alexanders Steakhouse IncSeries B$15.1M$47.4M0.92×
Veggie Grill, Inc.Series B$39.3M$31.4M0.61×
Matchbox Food Group, LLCSeries B$25.9M$31.4M0.61×
Eat Here Brands LLCSeries B$36.0M$6.4M0.12×
Fitness Food Holdings, Inc.Series B$64.1M$6.3M0.12×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Pre-Seed$835K2009-11-18$4.6M$3.7M85%
Seed$2.2M2010-09-30$10.8M$7.6M85%
Seed$400K2011-03-11$2.0M$1.4M85%
Seed$3.2M2012-02-02$16.0M$11.3M85%
Series A$7.0M2013-03-15$31.7M$20.0M85%
Series B$21.9M2013-12-03$121.9M$69.0M85%
Series B$12.7M2014-11-07$70.8M$40.1M85%
Series B$35.0M2015-06-30$194.4M$110.0M85%
Series B$40.0M2016-08-15$222.2M$125.7M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Pre-Seed$835K2009-11-18
    • First recorded raise — entered as Pre-Seed.
    • 12 investors on this round.
  2. Seed$2.2M2010-09-30
    • Raised 10 mo later, in step with the ~13 mo sector norm.
    • Round 2.6× larger than the prior — scaling up.
    • 41 investors on this round.
  3. Seed$400K2011-03-11
    • Came back fast: 5 mo vs the ~13 mo sector norm.
    • Round 5.4× smaller than the prior — bridge or down round.
    • 7 investors on this round.
  4. Seed$3.2M2012-02-02
    • Raised 11 mo later, in step with the ~13 mo sector norm.
    • Round 8.0× larger than the prior — scaling up.
    • 18 investors on this round.
  5. Series A$7.0M2013-03-15
    • Raised 13 mo later, in step with the ~13 mo sector norm.
    • Round 2.2× larger than the prior — scaling up.
    • 29 investors on this round.
  6. Series B$21.9M2013-12-03
    • Raised 9 mo later, in step with the ~13 mo sector norm.
    • Round 3.1× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 2 investors on this round.
  7. Series B$12.7M2014-11-07
    • Raised 11 mo later, in step with the ~13 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  8. Series B$35.0M2015-06-30
    • Raised 8 mo later, in step with the ~13 mo sector norm.
    • Round 2.7× larger than the prior — scaling up.
    • 22 investors on this round.
  9. Series B$40.0M2016-08-15
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 50 investors on this round.
Intelligence
2017 ~Q2
Modeled next raise · ~10mo cadence
$45.7M
Modeled next size est.range $40.0M$73.1M
1.1×
Last step-up
$18.3M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Gary Hirshberg6 other2011-03
James Brady6 other2013-12
Scott Belsky2 other2015-06
Jonathan Neman1 other2009-11
Karen Kelley1 other2014-11
Mitch Reback1 other2015-06
Nicolas Jammet1 other2009-11
Steve Case1 other2014-11
Alice Elliot2013-03
Jeff Fried2011-03
Mike Hislop2014-11
Nathaniel Ru2009-11
Registry & provenance

Sweetgreen, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1477815
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Drybar Holdings LlcOtherSeries B$32.7M$311.1Mnetwork2 shared operators · same stage
MOD Super Fast Pizza Holdings, LLCRestaurantsSeries B$139.8M$99.6Msame sector · same stage
Opportunity Restaurant Group LlcRestaurantsSeries B$63.0M$114.0Msame sector · same stage
Roti Restaurants Inc.RestaurantsSeries B$58.0M$63.0Msame sector · same stage
Ag QSR LLCRestaurantsSeries B$55.0M$94.3Msame sector · same stage
Eureka Restaurant Holdings, LLCRestaurantsSeries B$55.0M$56.2Msame sector · same stage
Pacific Catch, Inc.RestaurantsSeries B$46.9M$48.0Msame sector · same stage
7 Star Investments, LLCRestaurantsSeries B$40.0M$126.8Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Sweetberry Holdings LLCRestaurantsPre-Seed$2.7M90%
Sugar House Station, LLCRestaurantsPre-Seed$934K85%
Sweet Chick Life Inc.RestaurantsSeries A$13.2M85%
Hip Cuisine Inc.RestaurantsPre-Seed$1.3M85%
Boston Ramen Company, Inc.RestaurantsPre-Seed$824K84%
Gusto Chastain, LLCRestaurantsPre-Seed$3.6M84%
Nine Sugars, LLCRestaurantsPre-Seed$1.4M84%
Bennett Street Eatery, LlcRestaurantsPre-Seed$2.8M84%
Frequently asked
How much funding has Sweetgreen, Inc. raised?
Sweetgreen, Inc. has raised approximately $123.3M in disclosed capital across 9 recorded financing rounds, aggregated from public filings.
What is Sweetgreen, Inc.'s estimated valuation?
Provath's modeled valuation for Sweetgreen, Inc. is approximately $125.7M (modeled range $84.0M–$483.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Sweetgreen, Inc. at?
Sweetgreen, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Mon Aug 15.
What does Sweetgreen, Inc. do and where is it based?
Sweetgreen, Inc. operates in the Restaurants sector, based in Culver City.
Explore related

See where Sweetgreen, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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