Producer of Premium "Coffee on Tap" Cold Brew Coffee Secures $8M In Funding
NEW YORK, NY (February 5, 2018) - Wandering Bear, the premium coffee brand credited with pioneering innovation in the fast-growing cold brew coffee category with its bag-in-box “coffee on tap,” announced today their closing of an $8 million Series A equity round of financing.
Launched in 2014, Wandering Bear is taking a different approach to building a successful beverage brand. Its distinctly strong flavor profile, high caffeine content, unique packaging, and innovative route-to-market all support a mission to offer consumers top-quality, ready-to-drink organic coffee in accessible formats that serve each daily consumption occasion. After seeing consecutive years of triple-digit growth in the New York metro area, the brand has positioned itself to scale quickly onto the national stage.
To date, Wandering Bear has concentrated on expanding its footprint in the Northeast region, making omni-channel distribution a hallmark of its growth strategy. In 2017, the brand developed and built out a best-in-class supply chain and invested heavily in its innovation pipeline, two moves that will continue to differentiate it in the highly competitive cold brew coffee category. Additionally, Wandering Bear has expanded its regional distribution into prominent retail outlets such as Whole Foods, Target, Costco and Kings.
“This significant capital infusion will allow us to execute on the deep infrastructure and innovation pipeline we developed this past year,” said Wandering Bear co-founder Matt Bachmann. “Speed will be critical, and we’re excited to hit the gas beyond New York, fueled by cold brew, of course,” added co-founder Ben Gordon.
Proceeds from the raise will be used to build out the senior leadership team, launch a broad innovation pipeline, and invest in sales and marketing.
About Wandering Bear Inc.
New York-based Wandering Bear Inc. is a beverage company delivering organic and Fair Trade certified ready-to-drink cold brew iced coffee, with no preservatives or sugar, to consumers at home, at work and on-the-go. The Company serves its cold brew in a multi-serve bag-in-box “coffee on tap” formats, 11oz individual units, as well as 5-gallon kegs for food service operators. You can find Wandering Bear online and at retailers in the Northeast. Keep up with the Bear at wanderingbearcoffee.com on the web and @WanderingBearCo on social.
