Cava Group, Inc. closed a $190 million Series F round on April 27, 2021. The financing was led by T. Rowe Price Group, Inc. and included participation from Lighthouse Investment Partners, Mousse Partners, Equilibra Partners Management LLC, and Declaration Partners LP. Returning investors in the round included Revolution Growth, SWaN & Legend Venture Partners, and The Invus Group, LLC. The round was raised from a group of investors and closed the transaction the same day. The financing set a post-money valuation of nearly $1.3 billion. Cava Grill operates fast-casual restaurants and a prepared food wholesale business built around a Mediterranean menu. Founded in 2006 by Ike Grigoropoulos, Ted Xenohristos, and Dimitri Moshovitis, the company is led by CEO Brett Schulman. It has several locations in Washington, D.C., Maryland, Virginia, New York, New Jersey, and California. The company raised $30m in funding and will use the proceeds to expand operations. Investors in the round included Revolution Growth, SWaN & Legend Venture Partners, and The Invus Group. The business combines restaurant operations with wholesale distribution of prepared Mediterranean food. Cava operates fast-casual restaurants and a consumer packaged goods line offering Mediterranean flavors inspired by founders Ted Xenohristos, Ike Grigoropoulos, and Chef Dimitri Moshovitis. Led by CEO Brett Schulman, the company runs 11 locations in the Washington, D.C. metro area and is opening its first of several Los Angeles restaurants. Its CPG products are sold in over 200 Whole Foods Market locations across the east coast and midwest, with expansion to southern California planned. Cava raised $45m in a Series B to fund growth, technology initiatives, community partnerships, and enhanced team member benefits. The company intends to use proceeds to enter new markets and open additional locations on both the east and west coasts.

Total raised

$265M

Funding rounds

3

Latest round

Series F

Latest activity

Apr 2021