About First Watch
First Watch is a company based in Bradenton (United States) founded in 1983 was acquired by Advent International in July 2017.. The company has 15,000 employees as of December 31, 2024. First Watch has completed 3 acquisitions, including Bread & Company, The Egg & I and The Good Egg Co. First Watch offers products and services including Breakfast Menu, Online Ordering Platform, and Brunch Offerings. First Watch operates in a competitive market with competitors including Burger King, Cracker Barrel, Restaurant Brands International, YUM! Brands and Aurify Brands, among others.
- Headquarter Bradenton, United States
- Employees 15000 as on 31 Dec, 2024
- Stage Public
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Sectors
Consumer
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Phone
*********
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Website
*********
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Social
*********
- Legal Name First Watch Restaurant Group, Inc.
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Annual Revenue
$1.02 B13.95as on Dec 31, 2024
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Net Profit
$18.93 M-25.45as on Dec 31, 2024
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EBITDA
$103.1 M15.03as on Dec 31, 2024
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Latest Funding Round
$225 M (USD), Debt – Conventional
Aug 24, 2017
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Investors
Freeman Spogli
& 2 more
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Employee Count
15000
as on Dec 31, 2024
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Investments & Acquisitions
Bread & Company
& 2 more
- Acquired by
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IPO & Listings of First Watch
First Watch is a publicly listed company on the NASDAQ with ticker symbol FWRG in USA, operating in the Consumer services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of First Watch
First Watch offers a comprehensive portfolio of products and services, including Breakfast Menu, Online Ordering Platform, and Brunch Offerings. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Provides fresh breakfast items for dine-in and takeout options.
Enables app-based ordering for meals and waitlist management.
Features seasonal brunch dishes using quality ingredients.
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Operations Team
49 people
Leadership Team
34 people
General Team
16 people
Human Resources and Administration
13 people
Software Development Team
8 people
Sales and Marketing
5 people
Legal and Compliance
4 people
Customer Team
2 people
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Funding Insights of First Watch
- Total Funding Total Funding
- Total Rounds 2
- Last Round Debt – Conventional — $225.0M
- First Round First Round
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2017 | Amount | Debt – Conventional - First Watch | Valuation |
investors |
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| Jun, 2004 | Amount | Private Equity Round - First Watch | Valuation | L Catterton |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in First Watch
First Watch has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Freeman Spogli, L Catterton and Advent International. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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L Catterton is recognized as a leading consumer-focused private equity group.
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Founded Year | Domain | Location | |
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Private equity firm focused on multiple sectors
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Founded Year | Domain | Location | |
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North American private equity investments are managed by Freeman Spogli.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by First Watch
First Watch has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include Bread & Company, The Egg & I and The Good Egg Co. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Recruitment services for marketing and creative sectors are provided.
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2013 | ||||
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A chain of bakeries and cafes is operated nationwide.
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2000 | ||||
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Fresh home-style breakfast, lunch, and dinners are served.
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1987 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - First Watch
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
First Watch Comparisons
Competitors of First Watch
First Watch operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Burger King, Cracker Barrel, Restaurant Brands International, YUM! Brands and Aurify Brands, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Burgers and fast food are served by a restaurant chain.
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| domain | founded_year | HQ Location |
A chain of limited-service restaurants is operated nationwide.
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| domain | founded_year | HQ Location |
Quick-service restaurant brands are operated on a global scale.
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| domain | founded_year | HQ Location |
Restaurants chains
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| domain | founded_year | HQ Location |
Owns & operates restaurant serving food & beverages
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on First Watch
Frequently Asked Questions about First Watch
When was First Watch founded?
First Watch was founded in 1983 and raised its 1st funding round 21 years after it was founded.
Where is First Watch located?
First Watch is headquartered in Bradenton, United States. It is registered at Bradenton, Florida, United States.
How many employees does First Watch have?
As of Dec 31, 2024, the latest employee count at First Watch is 15,000.
What is the annual revenue of First Watch?
Annual revenue of First Watch is $1.02B as on Dec 31, 2024.
What does First Watch do?
First Watch was established in 1983 in Bradenton, United States, as a chain within the restaurant sector. Limited-service dining establishments are managed across multiple locations, primarily focusing on casual meals during daytime hours. Operations emphasize efficient service models without full table attention, catering to breakfast, lunch, and brunch preferences. The headquarters remains in Bradenton, with expansion occurring throughout various U.S. states to serve regional markets.
Who are the top competitors of First Watch?
First Watch's top competitors include Burger King, Cracker Barrel and Fazoli’s.
What products or services does First Watch offer?
First Watch offers Breakfast Menu, Online Ordering Platform, and Brunch Offerings.
Is First Watch publicly traded?
Yes, First Watch is publicly traded on NASDAQ under the ticker symbol FWRG.
How many acquisitions has First Watch made?
First Watch has made 3 acquisitions, including Bread & Company, The Egg & I, and The Good Egg Co.
Who are First Watch's investors?
First Watch has 3 investors. Key investors include Freeman Spogli, L Catterton, and Advent International.
What is First Watch's ticker symbol?
The ticker symbol of First Watch is FWRG on NASDAQ.
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