Philz Coffee Gets $15M For Expansion

Philz Coffee, the Silicon Valley coffee chain which has a single outpost outside of the Bay Area--in Santa Monica---has raised $15M to expand its footprint, the company said Wednesday. The funding came from Cowboy Ventures, Crunchfund, Maynard Web, Snoop Dog, and a number of other angels. Philz opened an outpost in Santa Monica last year, due to the demand of Silicon Valley venture investors and executives who were spending an increasing amount of time in "Silicon Beach". The new funds will go to open a new set of stores nationwide; it's unclear if any of those new stores will be in other pockets of Southern California's growing technology industry, such as Venice, Pasadena, or Playa Vista. Photo: Philz Coffee at last year's Oasis Conference in Santa Monica More information »