Blue Bottle Coffee has raised another $US70 million in funding, led by Fidelity Management and Research.
The high-end coffee shop has locations in San Francisco, New York, and Los Angeles and recently expanded to Tokyo. In April, Blue Bottle acquired Tartine Bakery, which has its own cult following in the Bay Area, to help expand into other markets.
The merged companies first joint outpost will be in a Brooklyn warehouse, Eater reported today.
The Financial Times reported that Tetragon Financial Group is also joining the list of the coffee maker’s backers, which includes Morgan Stanley, Index Ventures, True Ventures, Bono, Jared Leto, Tony Hawk and Instagram founder Kevin Systrom. We’ve reached out to Blue Bottle for comment.
It’s a lot of money raised in another venture-flush market. The coffee company had already raised $US46 million, including a $US25 million round in January 2014. Local rival Sightglass Coffee is backed by Square and Twitter co-founder Jack Dorsey. Philz Coffee, another San Francisco based chain, has also raised eight-figure rounds before.