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Smashburger

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A fast casual burger restaurant with more than 250 corporate and franchise restaurants operating in 30 states and in four international countries.

Denver, United StatesFounded 2007eCommerce & Marketplaces
Valuation $100–250M Last recorded · 2018
Headcount 2–5k Current team size
Total funding $100–500M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for Smashburger and the history behind them.

About Smashburger

Smashburger, a fast-casual restaurant chain, was established in 2007 in Denver, Colorado, by Tom Ryan and Rick Schaden. Ryan, a veteran of the food industry with a Ph.D. in flavor and fragrance chemistry, leveraged his extensive experience from roles at Pizza Hut, Long John Silver's, and McDonald's, where he was involved in developing popular items like the Stuffed Crust Pizza and the McGriddle. This background in food innovation was pivotal in creating Smashburger's signature cooking method.

The company's core offering is its fresh, never-frozen, 100% Certified Angus Beef burgers. The brand's name is derived from its unique cooking process: a hand-packed ball of beef is smashed onto a hot, buttered grill. This technique sears the burger, locking in the juices and creating a distinct flavor and texture. Beyond the classic burger, the menu includes regional recipes tailored to local tastes, chicken sandwiches, turkey burgers, black bean burgers, and a variety of sides like Smashfries tossed in rosemary, olive oil, and garlic. Salads and hand-spun milkshakes made with Häagen-Dazs ice cream round out their offerings.

Smashburger operates in the competitive better-burger segment of the restaurant industry, targeting customers seeking a higher quality experience than traditional fast-food chains. Its business model is centered on a franchise system, allowing for rapid expansion alongside corporate-owned locations. In 2015, Jollibee Foods Corporation (JFC), a major Philippine-based restaurant company, acquired a 40% stake in Smashburger, a move that provided significant capital for growth and international expansion. By 2018, JFC had increased its ownership to 100%, making Smashburger a wholly-owned subsidiary.

Source: Dealroom company data

At a glance

Status
Acquired
Founded
2007
Headquarters
Denver, United States
Employees
2,374
Open positions
9
Dealroom signal
79.2/100
Industry
Food
Sub-industry
Innovative Food
Sector
eCommerce & Marketplaces
Business model
Marketplace & ecommerce
Client focus
b2c

Funding history

3 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
ACQUISITIONOther financing Feb 2018 $100M $100M Jollibee Food Corporation —
LATE VCOther financing Oct 2015 $99M $248M Jollibee Food Corporation —
Showing the latest 2 of 3 recorded eventsBook a demo for the full funding history →

Growth signals

Smashburger website traffic

Latest recorded traffic for Smashburger is 460K monthly website visits, down 20.7% over the last three months. Smashburger's team grew 39.4% over the past year.

Latest monthly visits460K 3-month web change-20.7% 1-year team growth+39.4%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

2 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series B and later2 investors entered at this stage

  • Golub Capital
  • Jollibee Food Corporation
Team profiled 24 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 6 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
16 countries with
team presence
🇺🇸 United States95%
🇨🇦 Canada1%
🇬🇧 United Kingdom0.7%
🇨🇷 Costa Rica0.5%
🇫🇷 France0.3%
Top 5 of 16 shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Smashburger on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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