Premium meal delivery service, Feast & Fettle, has announced the closing of a $1.2 million seed round led by Salem Capital Management.
The company was launched in 2016 by personal chef, Maggie Mulvena Pearson, with the aim of hand-delivering restaurant-quality meals to their growing member base in Rhode Island and Massachusetts in New England.
The capital raised will help to accelerate Feast & Fettle’s expansion plans, including a custom-built production facility that will enable the company to move into the Boston metropolitan area in early 2021.
Predicting continued growth, the company will also use the facility as a blueprint for future sites, with the first being launched in Connecticut in late 2021.
“We’ve grown Feast & Fettle by focusing one thing – our members. Our patience and ability to appreciate the emotional connection with food, has allowed us to provide a unique experience at the dinner table you won’t find with any other meal delivery service. Now that we’ve spent the time to get it right, we’re gearing up for rapid expansion,” stated CEO, Carlos Ventura.
Feast & Fettle’s revenue is on track to be up more than 250% in 2020.
“We are thrilled to partner with Carlos, Maggie and the Feast & Fettle team as they continue their rapid growth. I have met many entrepreneurs over the past 30 years and the team at Feast & Fettle are amazing. They are using technology, social media and entrepreneurial spirit to build a truly great company,” said Paul Salem, Founder and CEO of Salem Capital Management.
“Feast & Fettle is a great example of the companies we are looking to back – they are locally entrenched and laser-focused on delighting their customers. As happy customers ourselves, we are believers in the product and look forward to helping bring Feast & Fettle to more neighbourhoods throughout New England,” Salem continued.
© FoodBev Media Ltd 2020