Everytable, the mission-driven food company dedicated to fighting for food justice and making fresh, nutritious food accessible and affordable for all, has announced a major milestone in its journey. The company has successfully raised $25 million in the initial closing of its Series C-2 preferred stock financing, marking a significant step towards its goal of transforming the food landscape.
Leading the investment round is the Dohmen Company Foundation (DCF) through the Dohmen Impact Investment Fund, a fund specifically focused on supporting companies capable of preventing and reversing diet-related diseases. This investment in Everytable represents the first for the Dohmen Impact Investment Fund since its launch in March 2023. The fund aims to accelerate the growth of for-profit social enterprises that advance proven food solutions to improve human health.
In addition to DCF, Everytable's existing investors, including Creadev, Gullspång Re:foods, and Kaiser Permanente Ventures, have also participated in the funding round. Their continued support demonstrates their confidence in Everytable's ability to address one of the most pressing and persistent issues of our time.
The capital raised in this financing round will be instrumental in fueling the growth of Everytable's retail stores and food services business. Everytable plans to expand its presence throughout Southern California, the Bay Area, and New York City, where it aims to make nutritious food more accessible to underserved communities. The company has already made significant progress, tripling its retail footprint in 2022 to nearly 50 locations. With the latest investment, Everytable plans to open up to 25 additional stores by the end of 2023.
Sam Polk, the CEO and founder of Everytable, expressed his enthusiasm for the partnership with the Dohmen Company Foundation, highlighting the organization's extensive experience in the healthcare industry and shared commitment to making nutritious food available to everyone, everywhere. Polk also acknowledged the unwavering commitment of Everytable's investors, even during a period of declining venture funding. Their dedication to the company's mission speaks volumes about their belief in Everytable's ability to effect meaningful change.
The connection between DCF and Everytable was established during the 2022 White House Conference on Hunger Nutrition and Health, where both organizations pledged their commitment to the President's ambitious goal of ending hunger and reducing diet-related diseases by 2030. This shared vision and alignment of values have solidified the partnership between Everytable and DCF.
Rachel Roller, the President and CEO of the Dohmen Company Foundation, expressed her pride in making the inaugural investment in Everytable through the Dohmen Impact Investment Fund. Roller emphasized the fund's objective of making healthy eating a ubiquitous practice and encouraged other foundations, socially conscious businesses, and investors to prioritize investments in healthy food solutions, such as Everytable. By doing so, they can contribute to addressing the escalating epidemic of diet-related diseases.
With the $25 million investment secured, Everytable is well-positioned to expand its reach and impact, bringing fresh, nutritious food to more communities in need. As the company continues to grow and innovate, its commitment to food justice and creating a healthier future for all remains at the forefront of its mission.