Seattle-based pizza chain Mod Pizza last week announced it has raised $42 million in funds from Fidelity Management and Research and PWP Growth Equity.
Having previously received $106 million from PWP and other investors, this round of funding brings Mod’s total capital raised to just under $150 million.
Mod’s claim to fame is individual artisan-style pizzas and salads. The pizzas are made on demand and offer customers the option to choose any combination of more than 30 toppings, all at one set price. The company is also known for its community impact.
“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.” Scott Svenson, co-founder and CEO of Mod Pizza, said in a press release. “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.”
Founded in 2008, Mod Pizza has more than 177 locations in 19 states and in the U.K., including more than 10 Eastside locations, and growth is expected to continue.