Blank Street has raised $75 million in Series B funding as the coffee chain continues its expansion on the West Coast.
The company now operates more than 100 locations across the U.S. and U.K. and is opening California locations in Beverly Hills, West Hollywood and Malibu.
But the more interesting story may be what Blank Street is building around coffee.
Blank Street Is Betting Beyond Coffee
Coffee remains a major part of Blank Street, but matcha has become just as important to its menu.
Co-founder Issam Freiha told the Financial Times that matcha is now a critical part of the menu and is on par with coffee.
Blank Street is also finding customers well beyond the traditional morning coffee run. The company says the majority of its sales now happen in the afternoon, with after 4 p.m. becoming its fastest-growing time period.
That shift is influencing what Blank Street sells. The company is expanding its offerings with products such as ice cream as it looks to reach customers throughout the day.
A Different Kind of Coffee Chain
The $75 million investment will help Blank Street continue its West Coast expansion and broaden its product lineup.
But the bigger story may be what that growth says about the coffee business.
Blank Street is showing that a modern coffee chain doesn’t necessarily have to rely on coffee or the morning rush alone. With matcha playing a major role and afternoon sales growing, the company is building around a much wider definition of the coffee shop.
Now it has another $75 million to see how far that model can go.
