Steeped Coffee

Steeped Coffee

Growth Stage

New Standard in Coffee: Specialty Coffee Brewed Like Tea in a Single-Serve Bag

New Standard in Coffee: Specialty Coffee Brewed Like Tea in a Single-Serve Bag

Overview

Raised to Date: Raised: $5,000,000

Total Commitments ($USD)

Platform

Republic

Start Date

06/07/2022

Close Date

07/26/2022

Min. Goal
$1,000,000
Max. Goal
$5,000,000
Min. Investment

$100

Security Type

SAFE

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$33,000,000

Discount

0%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

07/30/2022

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$102,041

# of Investors

4,571

Momentum
Funded
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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

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.

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

Financials as of: 06/07/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Steeped Coffee 04/24/2024 Republic $38,000,000 $2,600 SAFE Active RegCF
Steeped Coffee 10/07/2022 Republic $33,000,000 - SAFE Funded RegD 506(c)
Steeped Coffee 07/26/2022 Republic $33,000,000 $5,000,000 SAFE Funded RegCF
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Steeped Coffee on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $33,000,000

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