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MOD Pizza Has $160 Million in New Dough to Spend

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MOD Pizza is in a good place right now. 

CEO Scott Svenson spoke with TheStreet on the floor the New York Stock Exchange after his company secured $160 million in private equity funding. 

PE investment firm Clayton, Dubilier & Rice led the latest funding round, joining Fidelity and PWP Growth Equity as one of the Seattle-based company's financial backers. To date, the company has secured about $339 million in funding. 

"We've been the fastest growing restaurant brand in the country for the last four years and that takes a lot of capital, now we're well financed and we're ready to keep going," Svenson said. "We are also going to use the funding to invest in our technology and digital infrastructure. If you're not investing in technology to improve the customer experience and make your business more efficient, as well as invest in digital to make your product more available to customers, you will eventually fall behind."

MOD is operating in a crowded space with competitors like Pizza Hut (YUM) , Papa John's (PZZA) , Domino's (DPZ) , not to mention countless private rivals, but Svenson believes that the company's commitment to a unique experience at its stores separates MOD from the pack. 

The company has experienced exponential growth over the past five years, adding at least 100 stores in each of the past three years. In 2018, the company added 102 stores, yielding $398 million in revenue

To hear the entire interview, check out the video above. 

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