MOD Pizza offers individual artisan-style pizzas and hand-tossed salads made on demand with any combination of over 30 toppings for a single price. The company emphasizes a people-first, purpose-driven culture and progressive hiring practices, including hiring individuals who face barriers to employment. MOD has grown rapidly — there are 433 locations system-wide across 28 states and the U.K., and it added 102 locations in 2018. Financially, MOD reported $398 million in system-wide sales and $312 million in company net revenue in 2018, with domestic system-wide same-store sales up 3.1% and 100% growth in digital orders year over year. MOD also invests in social impact and community efforts, contributing $1.8 million to causes in 2018 and planning to create additional meals for food banks. Going forward, the company plans to scale to roughly 1,000 locations over the next five years and to invest in off-premise, digital capabilities, loyalty (MOD Rewards), and personalized marketing. Mod Pizza makes individual artisan-style pizzas on demand, allowing customers to create their own pizzas and salads using fresh-pressed dough, sauces and over 30 toppings. Founded in 2008 by Scott Svenson and Ally Svensonand and based in Seattle, WA, the company operates more than 300 locations system-wide across 27 states and the United Kingdom. In October 2018 the company raised $73m, including $33m in equity and a $40m credit facility. Equity investors included PWP Growth Equity and Fidelity Management & Research Company, while Keybanc Capital Markets, SunTrust Robinson Humphrey and Raymond James provided the debt financing. The equity round brought total equity capital raised to date to more than $185m. Mod intends to use the funds to continue to grow in 2018 and bolster its presence in existing U.S. and U.K. markets. MOD Pizza, founded in Seattle in 2008, is a pioneer in the fast-casual pizza segment offering individual artisan-style pizzas and salads made on demand with any combination of over 30 toppings for one set price. The company emphasizes a purpose-led culture and social impact, positioning itself as both a place to eat and a place to work. MOD currently operates 177 locations across 19 U.S. states and the U.K. and was named the fastest-growing restaurant chain by Technomic in 2015. Financially, MOD has raised just under $150 million to date and announced an additional $42 million equity round this year. The new capital will support continued U.S. expansion within existing markets and entry into new U.S. markets (Florida, Alabama, Georgia, Utah) as well as further growth in the U.K. MOD Pizza, founded in 2008 by Scott and Ally Svenson, operates a fast-casual concept focused on individual artisan-style pizzas made on demand with fresh-pressed dough, signature sauces, and customizable toppings. Customers can build their own pizzas and salads from more than 30 featured toppings or choose from a menu of classics. The company operates 110 stores across 16 states. MOD intends to use new funding to support aggressive growth plans, including doubling its store base in 2016 and expanding within existing markets. It is also planning entry into new U.S. markets and its first international market in the United Kingdom. Financially, the company has raised approximately $106m to date. MOD Pizza operates a fast-casual concept where customers create their own pizzas and salads from any combination of 30 featured toppings or choose from menu classics; pizzas are hand-cooked in an 800-degree oven in under three minutes and salads are hand-tossed. Led by co-founder and CEO Scott Svenson, the chain also offers local draft beers, wine, handspun milkshakes and house-made lemonades and iced teas. The company currently operates 32 stores across Washington, Oregon, California, Arizona, Colorado and Texas and plans to double its store base by the end of June. MOD expects to open its 100th store before the end of 2015, including first locations in Illinois, Missouri, Michigan, Pennsylvania, Maryland, Washington DC, North Carolina and South Carolina. The business has been raising institutional capital to support rapid expansion and operational investment. The recent financing activity increased the company’s total equity raised to more than $70M.

Total raised

$362M

Funding rounds

7

Latest round

Equity

Latest activity

May 2019