A pizza chain created by a former Starbucks exec just raised another $73 million - here's why it should terrify Domino's and Papa John's

Melia Robinson/Business Insider

• Fast-casual chain MOD Pizza raised another $73 million, bringing its total equity capital raised to more than $180 million.
• The chain now has 302 locations, opening roughly 100 stores in the last year alone.
• Here's what it's like to visit.

MOD Pizza has raised another $73 million, bringing the fast-casual pizza chain's equity capital raised to more than $185 million.

"We're going to continue to grow at the rate we have been growing - which is really fast," CEO and co-founder Scott Svenson told Business Insider on Tuesday.

MOD Pizza is one of the fastest-growing chains in the industry, opening 110 locations in 2017. The fast-casual pizza chain now has 302 locations, more than doubling its size over the last two years.

"It's been fun and exhilarating, but wild is a good way of describing it," Svenson said. According to the CEO, MOD Pizza plans to continue to open roughly 100 stores a year.

In the most recent round of funding, the fast-casual pizza chain raised $33 million from existing investors, including PWP Growth Equity and Fidelity Management & Research Company. The company also closed on a $40 million credit facility.

Business Insider's Melia Robinson recently visited a MOD Pizza in Daly City, California. Here's why she believes traditional pizza delivery chains should be terrified:

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