slutty vegan

Slutty Vegan Raises $25M, Brand Now Valued at $100M

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Established in 2018, Slutty Vegan, came out the gate taking the food industry by storm. Reportedly, the Atlanta-based vegan burger chain’s revenue grew to $4 million within the first six months of its grand opening

In a 2019 interview with founder Pinky Cole, we asked where she saw her business in the next 5 years.

Her response was, “I see Slutty Vegan country-wide, providing vegan experiences in communities where they would have otherwise never had that opportunity.”

slutty vegan
Pinky Cole in front of her Atlanta location | Credit: Raymond McCrea Jones for The New York Times

Since then, Slutty Vegan has grown into a restaurant empire with four brick-and-mortar locations across Atlanta, and openings scheduled for Birmingham, Baltimore, and New York.

According to a “CNBC Make It” estimate, Slutty Vegan made between $10 million and $14 million in 2021 revenue.

Now, with help from a $25 million series A investment round, led by entrepreneur Richelieu Dennis’ New Voices Fund and restaurateur Danny Meyer’s Enlightened Hospitality Investments,  Cole plans to open 10 additional locations by the end of this year and 10 more locations in 2023.

This recent funding round values Slutty Vegan at $100 million, For(bes) The Culture reported.

In December of last year, Slutty Vegan announced the hiring of some key players to assist with its expansion plans. They brought on professional chef, Muhammad Yasin as district manager, and a former CAVA executive, Joi Alexander as national director of sales & catering.

The company also plans to hire a chief operating officer and chief marketing officer to help manage its exponential growth.

Not bad for a 4-year-old business that started out taking orders over Instagram.

 

Tony O. Lawson


Related: Black-owned Vegan Restaurants You Should Know


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