Health-focused chain Everytable raises $55 million in Series C funding

Everytable Fundraiser

Everytable plans to expand its omnichannel concept in California and New York after a $55 million funding round. / Photo courtesy of Everytable.

Everytable, the health-focused concept that lists its ready-to-eat meals by neighborhood, has raised another $55 million to continue its expansion in California and New York City, the company said Thursday.

The Series C funding round was led by a trio of investment firms, Creadev, Desert Bloom Food Ventures and Gullspång Re:food, each of which is focused on investing in healthier and more sustainable food systems.

Venture firm Kaiser Permanente Ventures, investor Kimbal Musk along with investment groups The Beacon Fund, Brener International Group and Lerer Hippeau Ventures also participated, as did the Libra Foundation, a non-profit organization that supports communities. color. Many of these groups had previously provided financing to the company.

The funds will be used to support Everytable’s unique model, which is expanding a business that serves healthy and convenient meals in a variety of formats, including SmartFridges, e-commerce, subscription services and storefronts. But it also focuses on supporting low-income and underserved communities.

“We believe that access to affordable and nutritious food is a human right,” Sam Polk, the former Wall Street financier who founded the company, 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.”

Meals are prepared in a central commissary kitchen and are priced based on the median income for a zip code. The idea is to make its extensive menu of bowls, salads, wraps, and other items as cheap as McDonald’s or Wendy’s.

The company currently has 32 storefronts, 20 of which opened this year. It is on track to end the year with 54 locations. It operates these storefronts in the Los Angeles area, Orange County and San Diego County in California and launched a delivery service in the Bay Area in the spring. It also opened the first of three locations in New York. He plans to open more in that city next year, along with the Bay Area.

Many of the locations are geared toward underserved communities. “Its growth incentivizes a healthier and more nutritious food supply chain, while the combination of commissary, meal delivery and optimized ready-to-eat storefronts challenge the traditionally high costs of operating in the restaurant industry,” Gustaf Brandberg , general partner of Gullspång Re. :food, said in a statement.

The company also aims to support underserved communities through a unique franchise program, providing financial support and training for women and people of color to become operators. That program has $6 million in support from a wide range of foundations and nonprofit groups. Their goal is to franchise 60 locations in the next three years.

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