Cava, the company behind the fast casual Cava Grill restaurants and a fast-growing prepared foods wholesale business, has raised $30 million in new funding, bringing its total fundraising in the last two years to more than $90 million.
The latest funding round — its third — comes from existing investors, two D.C.-based funds, Revolution Growth and SWaN & Legend Venture Partners, and New York’s The Invus Group.
The funding will help Cava expand to three new markets in 2018, one of which will be Boston. The new markets will likely be split between the East and West coasts and possibly include something in between, CEO Brett Schulman told me.
Cava will also continue to expand in existing markets, including New York City, with six new locations there planned for 2017. There are currently 27 Cava Grill locations in the D.C., Los Angeles and New York City areas.
The CEO said Cava had “a good amount of external interest” but decided to stick with existing investors for this latest round…
