Everytable Raises $25M in Funding, Attracts Impact Investors Focused on Food as Medicine
LOS ANGELES, June 27, 2023 /PRNewswire/ -- Everytable, a mission-driven food company that fights for food justice by making fresh, nutritious food accessible and affordable for all, announced today that it has successfully raised $25 million in the initial closing of its Series C-2 preferred stock financing. The round was led by the Dohmen Company Foundation (DCF) through the Dohmen Impact Investment Fund, focused on investing in companies capable of preventing and reversing diet-related disease. Joining DCF are existing Everytable investors Creadev, Gullspång Re:foods and Kaiser Permanente Ventures.
The investment in Everytable is the first for the Dohmen Impact Investment fund since it was launched in March 2023 to accelerate the growth of for-profit social enterprises advancing proven food solutions that improve human health. The latest funding will be used to fuel growth of Everytable's retail stores and food services business throughout Southern California, the Bay Area, and New York City. Everytable tripled its retail footprint in 2022 to nearly 50 locations and plans to open up to 25 additional stores by the end of 2023.
"We are inspired by the Dohmen Company's long history in the healthcare industry and their dedication to our shared mission to make nutritious food accessible to everyone, everywhere," said Sam Polk, CEO and founder of Everytable. "The continued commitment from our investors, despite a steep decline in venture funding overall, speaks volumes about their confidence in our ability to address one of the most pressing and persistent issues of our time."
DCF and Everytable teams first connected through the 2022 White House Conference on Hunger Nutrition and Health, at which time both organizations committed to the President's bold goal of ending hunger and reducing diet-related diseases by 2030.
"The Dohmen Impact Investment Fund is proud to make its inaugural investment in Everytable to realize the Fund's goal of making healthy eating ubiquitous," said Rachel Roller, President and CEO of the Dohmen Company Foundation. "We encourage other foundations, socially conscious businesses, and investors to join us in prioritizing investments in healthy food solutions, such as Everytable, to address the growing diet-related disease epidemic."
About Everytable
Founded in 2016, Everytable is a mission-driven food company based in Los Angeles that fights for food justice and equality by providing healthy and nutritious food that is both accessible and affordable for everyone. Everytable is a multi-channel, fresh-prepared food business blending stores, subscriptions, delivery, and SmartFridges supplied by a central kitchen, with meals priced according to the neighborhood. Everytable serves Southern California, the SF Bay Area, and New York, with more stores and regional meal delivery soon to come.
In 2021 Everytable launched a trailblazing Social Equity Franchise program with the support of the Cal Wellness Foundation, Annenberg Foundation, Common Spirit (formerly Dignity Health), Tarsadia Foundation, and Libra Foundation that sets social entrepreneurs from marginalized communities on an expedited pathway to potentially owning and operating an Everytable store. Everytable further seeks to support local communities with its Pay It Forward program which allows guests to purchase meals for those in need. In 2022, Inc.'s Best in Business list recognized Everytable for positively impacting food insecurity across communities, along with other accolades such as being named one of Fast Company's top 10 most innovative dining companies. To date, Everytable has sold more than 17 million meals! For more information, please visit www.everytable.com or follow @foreverytable on Instagram.
About the Dohmen Company Foundation
With more than 165 years of healthcare experience, Dohmen has found a way to combine the rigor of business with the heart of philanthropy. After exiting the life science industry in 2018, Dohmen shareholders transformed the multi-generational family-owned business to a private foundation. Today, the Dohmen Company Foundation advances its vision of life without diet-related disease in three powerful ways: via a $60 million investment fund focused on accelerating the growth of for-profit social businesses with proven food solutions that improve human health, via a traditional endowment dedicated to increasing the impact of charitable organizations aligned with our vision, and via a fund dedicated to building public awareness of the surging rates of diet-related disease that threaten our national wellbeing. For more information, please see https://www.dohmencompanyfoundation.org.
About Creadev
Creadev is an evergreen investment firm operating worldwide, controlled by the Mulliez family, founders of one of the largest Business to Consumer retail platforms in the world. Creadev is committed to long-term collaboration with innovative, passionate and human-driven entrepreneurs that are focused on creating widespread access to essential goods and services such as healthcare, sustainable consumption and food. Based in Paris, and with offices in New York, Singapore and Nairobi, Creadev invests in companies well positioned to scale and become worldwide leaders in their respective sectors. Launched in 2002, Creadev has invested over $2 Bn in companies in stages ranging from venture to growth equity and buyout. More at www.creadev.com.
About Gullspång Re:food
Gullspång Re:food is an evergreen investment firm based in Stockholm and San Francisco, originating from the Swedish family-office Gullspång Invest. Our mission is to solve food system challenges for future generations across four themes: healthy diets, alternative protein and fat, healthy soils, and sustainable supply chains. Our investment philosophy is based on systems thinking, leverage points and planetary boundaries summarized in our report Food is Solvable. In addition to Everytable, Re:food is backing Oatly, Nick's, Mission Barns, Planted, Allplants, Agreena and circa ten other companies accelerating positive paradigm shifts in the food system.
Legal Representation
The Series C-2 offering was steered by Dirk Sampselle of Telos Arete, P.C., representing Everytable, PBC, and Dan Gawronski of Michael Best & Friedrich LLP, representing Dohmen Company Foundation.
Media Contact:
Christina Gilmour
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