Upscale convenience store Foxtrot Market, headquartered in Chicago, has raised $42 million in a Series B fundraising round. The round was led by David Barber’s Almanac Insights and Monogram Capital Partners. Backers also include David Chang, founder of Momofuku; Nicolas Jammet, co-founder and chief concept officer of sweetgreen; and former Whole Foods CEO Walter Robb.
Following this investment, Foxtrot expects to double its store count by year’s end. This growth will include adding up to nine stores in Chicago and Dallas where it presently has a footprint, and expansion into new markets including Washington, DC.
The company has also bolstered its executive team, hiring Sumi Ghosh, COO; Scott Holloway, SVP, Delivery; and Caroline Barry, VP, Strategy.
“With this new round of funding and an incredibly strong executive team now fully in place, we see 2021 as a year of tremendous growth for Foxtrot," said CEO and co-founder Mike LaVitola.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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