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Venture Capital News: Dig Inn Raises $30M

2017-03-23
NEW YORK, NY, Dig Inn, an operator of fast-casual restaurants, raised $30 million in Series D funding.
According to Business Insider, Dig Inn, a 15-restaurant chain with locations in New York and Boston, is already a hit with healthy eaters. In both cities, you're bound to see crowds lined up to get market plates any given day of the week.

With an average meal price of $10 and a focus on produce sourced from local farms, the chain aims to make simple, high-quality food available at a relatively affordable price.

Now Dig Inn has raised an additional $30 million in a Series D funding round led by AVALT. Other contributors to the round (its largest to date) include Monogram Capital Partners and Bill Allen, former CEO of OSI Restaurant Partners (which manages Outback Steakhouse).

The company had previously raised $21.5 million in earlier rounds of funding.

Dig Inn will use the new investment to launch more restaurants, open a culinary training school that's free for employees, make key leadership hires, and build out its internal tech platform. The chain also plans to open 13 to 15 more locations in New York and Massachusetts by 2019, and expand to a third to-be-determined state in 2018.
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