MOD Pizza raises $42m in fresh dough

Bellevue-based MOD Pizza has raised another $42 million, this time from Fidelity Management & Research, as well as previous funder PWP Growth Equity.

This brings the amount raised by the fast-casual pizza chain to nearly $150 million.

MOD Pizza, founded in 2008 by Scott and Ally Svenson, allows customers to build their own pizzas and charges the same price regardless of the number of toppings.

It had previously raised $106 million from PWP Growth Equity, a private equity fund, and a small group of private investors.

The chain has been expanding rapidly, and currently operates in 177 locations in 19 states. That’s up from 110 stores in 16 states this spring. It opened its first international locations, in the United Kingdom, this summer.

Next year, the company said in a news release, it plans to expand within existing markets, as well as in new states and in the U.K.

The company had reported strong sales growth for the first half of the year, fueled largely by a huge growth spurt in locations. It logged $70.5 million in sales at its company-operated and licensed stores through the six months ending July 10, up 168 percent over the same period a year ago.