Steeped Coffee (2022)

About this raise

Steeped Coffee, with a valuation of $33 million, is raising funds on Republic. The company makes specialty coffee that is brewed like tea in a single-serve bag. The single-serve bags of Steeped Coffee do not require any machine for brewing and come in compostable and sustainable packaging. Steeped Coffee is barista-approved and has partnered with over 400 top coffee brand partners. Josh Wilbur founded Steeped Coffee in April 2017. The current crowdfunding campaign has a minimum target of $1,000,000 and a maximum target of $5,000,000. The campaign proceeds will be used for growth and expansion.

Investment Overview

Invested this round: $5,000,000

Deal Terms
Company & Team

Total Commitments

Platform: Republic
Start Date: 06/08/2022
Close Date: 07/27/2022

Min. Goal
$1,000,000

Max Goal
$5,000,000

Min. Investment

$100

Security Type

SAFE

Series

Series A

SEC Filing Type

RegCF

Valuation Cap

$33,000,000

Discount

Company

Year Founded: 2017
Industry: Food, Beverage, & Restaurants
Tech Sector: Non-Tech
Distribution Model: B2C
Margin: Low
Capital Intensity: High
Location: Scotts Valley, California
Business Type: Growth
Company Website: Visit Website

Team

Employees: 32
Prior Founder Exits?: Yes

Founder Name: Josh Wilbur
Title: CEO

Financials

Revenue +30% YoY: $2,922,061
Monthly Burn: $247,023
Runway: 0.8 months
Gross Margin: 2%

View Detailed Financials

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$2,922,061	$2,242,690
COGS	$2,851,959	$2,251,094
Tax	$0	$0


Net Income	$-2,964,275	$-1,787,767

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$192,267	$654,773
Accounts Receivable	$434,808	$371,088
Total Assets	$1,897,470	$1,926,763
Short-Term Debt	$1,104,377	$962,906
Long-Term Debt	$7,412,131	$4,618,620
Total Liabilities	$8,516,508	$5,581,526

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Ratings

Total Prior Capital Raised: $7,955,000
VC Backed?: Yes

Close Date	Platform	Valuation	Total Raised	Security Type	Status	Reg Type
04/25/2024	Republic	$38,000,000	$1,646,198	SAFE	Funded	RegCF
10/08/2022	Republic	$33,000,000	-	SAFE	Funded	RegD 506(c)
07/27/2022	Republic	$33,000,000	$5,000,000	SAFE	Funded	RegCF

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Revenue
Valuation
Employees

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Employee History

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View on Republic

SAFE, $33M • Closed

8 Following

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86 Invested

Deal Considerations

1
Key Challenges
- Try Edge free for 7 days
Other Risks
- No other risks found

Steeped Coffee (2022)

Steeped Coffee (2022)

About this raise