Better-For-You Concept Everytable Raises $55 Million

    Industry News | August 5, 2022
    Everytable bowls on a colorful background.
    Everytable
    The fast casual will use the capital to grow in three key markets.

    Everytable, a mission-driven food company that fights for food justice by making fresh, nutritious food accessible and affordable for all, announced Thursday the closing of a $55 million Series C funding round. The round was led by Creadev, Desert Bloom Food Ventures, and Gullspång Re:food, each of which seeks to support healthier and sustainable food systems.

    Joining Creadev, Desert Bloom Food Ventures, and Gullspång Re:food in the round is Kaiser Permanente Ventures, Kimbal Musk, The Beacon Fund, Brener International Group, Lerer Hippeau Ventures, and The Libra Foundation.

    Everytable will use the investment to accelerate omni-channel growth throughout Southern California, the Bay Area, and New York City by building new stores, expanding its subscription delivery service, and increasing its food service business. Everytable has made an immense impact on underserved communities growing to 32 storefronts total, including 20 stores opened in 2022 alone and is on track to finish the year with 54 locations total. In 2021, the company expanded beyond the greater Los Angeles area into Orange County and San Diego County. This spring, Everytable launched its e-commerce delivery service in the Bay Area with plans to open storefronts in the market in 2023. Furthering the brand's expansion beyond Southern California, Everytable also opened its first three New York locations this spring, with three more stores slated to open by the end of the year.

    "We believe access to affordable and nutritious food is a human right," says Sam Polk, CEO and founder of Everytable. "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."

    Everytable is a disruptive food concept with meals priced according to each zip code's median income, and fresh, flavorful meals made from scratch in a central commissary kitchen. The unique business model drastically reduces the costs of standard restaurant operations, which allows meals to be priced affordably for everyone.

    "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," says Gustaf Brandberg, General Partner at Gullspång Re:food.

    "It has been a thrill to watch Sam and the Everytable team execute their mission as they scale and serve new communities," says Delphine Descamps, U.S. Managing Director for Creadev. "We're proud to support their innovative programs and growth alongside like-minded investors."

    "Re-shaping food systems to make a lasting impact on community health is at the heart of our mission," says Hans Taparia, cofounder of Desert Bloom. "Everytable's growth and commitment to building an equitable food system, while preparing food that is delicious and affordable, is inspiring."

    In addition to market expansion, Everytable's innovative Social Equity Franchise Program fosters economic empowerment among entrepreneurs from marginalized communities by providing a clear and supported path to business ownership. Serving as a model approach to franchising, a system largely devoid of diversity and representation by people of color and women, the program provides critical access to capital for qualifying graduates plus in-depth, hands-on training to empower and prepare minority entrepreneurs to operate Everytable restaurants in their own communities.

    With a combined $6 million in program-related investments and grants from funders including the Annenberg Foundation, The California Wellness Foundation, Dignity Health, The Irvine Foundation, The Kroger Foundation, Libra Foundation, Salesforce Foundation, Tarsadia Foundation, and W.K. Kellogg Foundation, Everytable aims to franchise 60 locations within the next three years.

    News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.