Mission-driven restaurant chain Everytable raised $55 million in its latest round of Series C funding, the company announced on Wednesday.
"We believe access to affordable and nutritious food is a human right," said Sam Polk, CEO and founder of Everytable, in a statement. "With the support of new and existing investors, we can continue transforming America's food system and creating a more just and equitable society by providing access to fresh food to everyone."
The round of funding was led by Creadev, Desert Bloom Food Ventures, and Gullspång Re:food. Other investors include Kaiser Permanente Ventures, Kimbal Musk, The Beacon Fund, Brener International Group, Lerer Hippeau Ventures, and The Libra Foundation.
The funding will be used to expand the company’s footprint.
Everytable currently has 32 storefronts open. Twenty of those have opened this year, including three in New York City. The chain plans to add an additional 60 units through franchising in the next three years on top of the 54 total it will have by the end of this year.
Everytable prices its menu according to the median income of each neighborhood it enters and uses a scratch kitchen, lowering the cost of entry for a franchisee. It also has a program for marginalized communities that allows for a clear path to business ownership.
"Everytable is addressing challenges in our food system on multiple fronts. Their growth incentivizes a healthier and more nutritious food supply chain, while the combination of commissaries, meal delivery and streamlined ready-to-eat storefronts challenge the traditionally high costs of operating in the restaurant industry," said Gustaf Brandberg, general partner at Gullspång Re:food in a statement.
