News

Veggie Grill raises $22M to expand brand

October 26, 2016

Veggie Grill has raised $22 million to help it grow. Investments came from Brentwood Associates, a private equity firm and existing shareholder of Veggie Grill; Powerplant Ventures, a venture capital firm founded by Veggie Grill's co-founders, Kevin Boylan and T.K. Pillan; and other current and new investors, according to a company press release.

With the investment, Veggie Grill will focus on expansion to new markets in the U.S., as well as growing current markets.

"As today's consumers make the shift towards 'veggie positive' thinking and eating, Veggie Grill's brand proposition positions us well for today and the future," said Veggie Grill CEO Steve Heeley. "This capital raise will help support our growth into other major markets across the U.S."

Following this round of funding, Brentwood Associates remains the largest single shareholder.

"As an innovative concept, Veggie Grill has proven to be truly differentiated in the marketplace for fast casual restaurants," said Rahul Aggarwal, partner at Brentwood Associates and a member of Veggie Grill's board of directors. "We look forward to our continued partnership as the brand progresses on its rapid growth trajectory."