Mission-driven restaurant chain Everytable has raised $55 million in its latest Series C funding round, the company announced Wednesday.
“We believe access to affordable, nutritious food is a human right,” Everytable CEO and Founder Sam Polk said in a statement. “With the support of new and existing investors, we can continue to transform America’s food system and create a more just and equitable society by providing access to fresh food for all.”
The funding round 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 them have opened this year, including three in New York. The chain plans to add 60 more units through the franchise over the next three years, in addition to the 54 it will have by the end of this year.
Everytable prices its menu based on the median income of each neighborhood it enters and uses a scratch kitchen, which lowers the cost of entry for a franchisee. It also has a program for marginalized communities that allows a clear path to business ownership.
“Everytable is addressing our food system challenges on multiple fronts. Their growth is driving a healthier, more nutritious food supply chain, while the combination of streamlined retail, meal delivery and ready-to-eat storefronts challenges traditionally high operating costs in the restaurant industry,” Gustaf Brandberg, general partner at Gullspång Re:food said in a statement.