Concordia Coffee Systems, a manufacturer of self-serve commercial espresso systems, has raised $6.5 million in new financing led by Marker Hill Capital. Previous investors Fluke Capital Partners, Swiftsure Capital and several high-profile Seattle angel investors also participated in this round.
Concordia Coffee System's CEO and chairman of the board, David Isett said in a prepared statement, "This capital will be used to ramp up our international business and to fund the market roll out of our new line of coffee systems globally so we can now bring our outstanding coffee to the whole world."
Concordia Coffee Systems developed and patented a fully automatic espresso delivery system that combines milk steaming, coffee grinding and brewing. The process is completed in one single step without the user having to move the cup. Everything needed to make the highest quality espresso beverage (fresh milk, fresh coffee beans, and premium sauces and syrups) is integrated in a single system.
Marker Hill Capital's chairman, Robert Fanch will join the company's board of directors. Fanch, renowned for having founded and managed several telecommunications enterprises, commented, "Concordia Coffee Systems has the winning combination that Marker Hill values in our investments: patented disruptive technology, a strong operational team, and strong business expansion opportunities both domestically and internationally."
The company's key partners include coffee roasters such as Starbucks, Seattle's Best and Caribou Coffee. Concordia's customers include Hilton, MIT, Crave America!, Tesco, Costco, Google, Compass, Aramark, Sodexho, Stanford University, and United Airlines.
