Tuesday, September 13, 2016

Philz Coffee Looks Beyond California With $45M Funding

Philz Coffee, the Silicon Valley coffee chain which has been in a massive expansion in Southern California in the last few months, announced on Tuesday a $45M Series C funding round. The company said the big investment round was led by TPG Growth. As part of the funding, Jim COulter and Sanjay Banker, both of TPG, join the company's board. Philz Coffee is about to open its first location in Glendale this week, just opened a location in Huntington Beach, and opened a location in Hollywood in June. The company's first expansion beyond the Bay Area was in Santa Monica in 2014, due to the concentration of high tech startups in the area.