Los Angeles-based virtual restaurant company and digital brand platform, Salted, is making waves with the dual announcements of a $14 million series B fundraising round and the acquisition of Mediterranean concept, Xenia. Salted CEO Jeff Appelbaum hopes to both re-define and refine the virtual restaurant industry moving forward. He sees Salted as part-delivery brand operator, part-concept incubator, and part-technology company.
With the series B investment, Appelbaum said they will continue to scale and build the Salted platform to both acquire and create the digital-first “restaurant brands of tomorrow” and focus on balancing technology (including a proprietary operating system) with hospitality.
With the acquisition of six-unit Mediterranean concept, Xenia — the company’s first-ever external acquisition — Salted is adding a new pita, falafel and tzatziki-focused flavor profile to its portfolio of bowls, lunches, and pizza-based concepts like Moonbowls and $5 Salad Company. Currently, Xenia’s menu is available at six Salted locations across the country but will be expanded over time.