MOD Super Fast Pizza Holdings, LLC , a pioneer of fast-casual pizza with the largest store base in the sector, today announced it has raised an additional $42 million of equity led by Fidelity Management & Research Company and PWP Growth Equity.
This round of funding marks the second for the Company this year, bringing total capital raised to date by MOD to just under $150 million. In 2015, MOD was named by Technomic as the fastest growing restaurant chain in the U.S. The additional capital will support the Company’s continued growth across the country.
“We believe that MOD’s mission of making a positive social impact in the communities we serve has been a key factor in our success as we have expanded across the U.S. and the U.K.” said Scott Svenson, co-founder and CEO of MOD Pizza. “We are very grateful that Fidelity, PWP Growth Equity and our other investors have chosen to support our continued growth, so we can introduce more communities to the unique MOD experience which is fueled by our purpose-driven culture.”
MOD currently operates 177 locations in 19 states including Arizona, California, Colorado, Idaho, Illinois, Kentucky, Maryland, Michigan, Missouri, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Texas, Virginia, Washington and Wisconsin. In 2017, the Company plans to expand within existing markets while also introducing the concept to new markets in the U.S. including Florida, Alabama, Georgia and Utah, while also expanding its presence in the U.K.
November 16, 2016