SAN FRANCISCO (PRWEB) June 15, 2022
Fellow, the specialty coffee gear company on a mission to help people brew ridiculously good coffee at home, today announced a $30 million Series B funding round led by NextWorld Evergreen. The funding will be used to accelerate product innovation, bolster educational content, expand retail, and recruit additional top talent. Benchmark’s Peter Fenton and other angel investors also participated in the round.
Fellow elevates the home brewing experience to meet the new standards of specialty coffee consumers. Jake Miller founded the brand to address the major disconnect between high-quality coffee and the low-quality equipment home enthusiasts used to brew that coffee. In 2013, he launched Fellow’s first product via Kickstarter, a unique coffee steeper, which he prototyped in his graduate dorm room at Stanford. In the years since, Fellow has launched a line of beautifully functional brewing tools including its award-winning Stagg EKG Electric Kettle, the gold standard of pour-over kettles used by world champion baristas, and Ode Brew Grinder, winner of the Red Dot Design Award. More recently, the company has broadened its services to include educational resources and curated coffees, with the goal of becoming the one-stop-shop for reliably excellent coffee, every day.
“Over the years, we’ve learned that achieving our mission to help customers make exceptional coffee at home is more than just about great product design; it’s also about giving them access to the best quality beans and equipping them with guidance on how to use those products,” said Jake Miller, founder and CEO of Fellow. “This new funding will allow us to expand what we do and move our brand into this position.”
The at-home coffee market is stronger than ever. Just last year, Americans spent over $2 billion on coffee makers and accessories for at-home brewing and consumed nearly 15 billion cups of coffee.* As a result of the pandemic, consumers increasingly prefer home brewing, which jumped from 73 percent pre-pandemic to 81 percent today.
Since raising its first round of capital in 2014, Fellow has doubled in size every year and welcomed leading executives from Apple, Google, Sephora, Traeger, and Tesla to a team focused on beautiful design and exceptional customer service.
“The team – led by Jake – has established Fellow as the innovation leader within the at home coffee category through its deep passion for product and commitment to delighting consumers,” said Tiffany Obenchain, Partner at NextWorld Evergreen. “We are excited to partner with Fellow to build on its success with continued innovation, more content and richer consumer experiences."
This summer, Fellow will open its second flagship retail store on Venice, California’s famed Abbot Kinney Boulevard (after its San Francisco Mission District location) and launch a new product in its popular Carter travel mug line.
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*In-home coffee report conducted by The NPD Group
About Fellow
Fellow is on a mission to help people brew ridiculously good coffee at home. Inspired by the need for high quality equipment to properly brew high quality coffee, Fellow brings the confidence of the specialty coffee world into the lives of everyday coffee lovers, from the curious to the prosumer.
Fellow’s products and services include: kettles, grinders, French presses, mugs, and a seasonal selection of exclusive, limited release coffee from roasters around the world. Fellow’s Stagg EKG Electric Kettle, Ode Brew Grinder and Carter Move Mug have won a number of renowned awards and accolades, including the Specialty Coffee Association Awards, the Red Dot Design Award, and the Dezeen Awards.
Founded in 2013, by CEO Jake Miller, Fellow is headquartered in San Francisco, Calif. For more information about Fellow and to learn about career opportunities, visit jobs.lever.co/fellowproducts.
About NextWorld Evergreen
NextWorld Evergreen is a San Francisco-based growth equity firm focused on conscious consumer brands. NextWorld Evergreen leverages its 100-year fund structure, deep brand expertise, and ESG frameworks to partner with founders and management teams to build the next generation of consumer companies that positively impact people and the planet while generating outsized business results. Representative investments include Credo Beauty, The Citizenry, Smith Tea and Van Leeuwen Ice Cream. NextWorld Evergreen is a part of NextWorld, an integrated capital organization that combines investment and nonprofit activities with a mission to inspire and drive action for a better world. For more information, visit http://www.nextworldevergreen.com and follow NextWorld Evergreen on LinkedIn.
