Dive Brief:
- Everytable has secured $25 million in an initial closing of its Series C-2 preferred stock financing, the company said Tuesday.
- Dohmen Company Foundation’s Dohmen Impact Investment Fund, a new investor, led the round with contributions from existing investors Creadev, Gullspång Re:foods and Kaiser Permanente Ventures.
- The company has raised over $111 million across nine funding rounds, according to Crunchbase.
Dive Insight:
The latest funds will help Everytable grow its store locations and foodservice business across Southern California, the Bay Area and New York City. The company offers health-focused meals via subscription, as well as grab-and-go fare, food service and catering to industries like business, higher education, healthcare, nonprofits and government.
Everytable has about 50 units and plans to open another 25 by the end of the year. In 2024, the company also intends to move into areas like Philadelphia and Washington, D.C., with the possible expansion into Boston, Phoenix, Chicago and Texas, according to Restaurant Business.
Everytable, which was founded in 2016, focuses on providing nutritious food that is accessible and affordable for everyone, according to the press release. The company tends to set up shop in food deserts and prices its meals based on neighborhood location. Hot Plates range from $6.74 to $9.95 depending on the meal chosen.
Earlier this year, the company invested $8 million to help people in marginalized communities own a franchised location, according to Restaurant Business. Everytable’s Social Equity Franchise fund prepares franchise candidates by having them work initially as managers in a store, while concurrently receiving training in leadership, entrepreneurship and operations. The first cohort of this fund will take ownership this summer. In September, the company set a long-term goal of investing $100 million to help low-income entrepreneurs become store owners.
