Next Level Burger, one of the first 100% plant-based burger chains in the U.S., has secured $20 million in its latest investment round.
The company plans to use the funding to quadruple its store presence across the country, increasing its present store count to 1,000 locations by the end of 2025.
The investment round was led by a private high-net-worth shareholder and an organic and natural foods partner. It also saw minority investment from “vegan investor power couple” Alex Payne, formerly of Twitter, and Nicole Brodeur.
“Since our founding in 2014, our company mission has been focused on a triple bottom line philosophy of doing good, having fun and making money,” said Matthew de Gruyter, CEO and co-founder of Next Level Burger. “Now more than ever, the fight against climate change and for sustainability drives us and our awesome team of mission-oriented stakeholders. At NLB we believe the future is bright, but it’s up to all of us to make sure of it.”
Next Level Burger currently operates stores in Oregon, Washington, California, Colorado, Texas and New York. The company also has an ongoing partnership with Whole Foods, with six stores being run inside the Amazon-owned grocery store chain.
The burger chain recently opened its flagship restaurant in Denver, CO.
Photo credit: Next Level Burger
