Veggie Grill announced the completion of a round of equity funding. The $22 million capital raise included investments from Brentwood Associates, a private equity firm and existing shareholder of Veggie Grill; Powerplant Ventures, a venture capital firm founded by Veggie Grill’s cofounders Kevin Boylan and T.K. Pillan; and other current and new investors. With the investment, Veggie Grill will focus on expansion to new markets in the U.S., as well as growing current markets.
Offering guests innovative, veggie-centric food created using seasonal vegetables, fruits, grains, and nuts prepared with bold flavors, Veggie Grill has become one of the premier veggie-based restaurant concepts in the U.S.
“As today’s consumers make the shift towards ‘veggie positive’ thinking and eating, Veggie Grill’s brand proposition positions us well for today and the future,” says Veggie Grill CEO Steve Heeley. “This capital raise will help support our growth into other major markets across the U.S.”
Following this round of funding, Brentwood Associates remains the largest single shareholder. “As an innovative concept, Veggie Grill has proven to be truly differentiated in the marketplace for fast-casual restaurants. We look forward to our continued partnership as the brand progresses on its rapid growth trajectory,” says Rahul Aggarwal, Partner at Brentwood Associates and a member of Veggie Grill’s Board of Directors.