Award-winning bakery and dessert brand Milk Bar—founded by Chef and now CEO Christina Tosi—has announced that the company has raised Series A funding to expand the company’s reach and bring its innovative line of desserts and snacks to more people via both online and offline channels.
"For almost a decade, we've built the Milk Bar spirit patiently and purposefully by infusing our personality and culture into everything we create from the ground up," said Tosi. "We are excited to spread our curious and playful spirit all over the world through unexpected channels and innovative products, to empower people and remind them to take time to celebrate the everyday. It's all about that Milk Bar Life!"
Tosi, an internationally-acclaimed pastry chef, two-time James Beard Award-winner, and regular co-host of FOX’s MasterChef and MasterChef Junior first launched Milk Bar in New York City in 2008.
According to a company press release, the new funding, raised through RSE Ventures, will be used to further Milk Bar's mission of making life a little sweeter; it marks the brand's first outside investment following nine years of steady and profitable growth. The company plans to use this round of funds to open brick-and-mortar stores in new cities, revamp its rapidly growing e-commerce and digital platform, and expand its offerings of in-store and at-home baking experiences to drive a greater DIY baking culture across the country.
"Milk Bar is changing the way we think about baked goods," said Matt Higgins, Co-Founder and CEO of RSE Ventures. "As a culinary pioneer, Christina has inspired entirely new dessert categories. Milk Bar is driving towards something even bigger—a way of life that creates connectivity and inspires play—sparked by something as simple as a cookie. [The company's] growth potential is limitless.
Milk Bar said that it will also continue to expand the reach of its baking mixes, proprietary coffee, and other merchandise through various in-store and online retail channels.
“At its heart, Milk Bar inspires moments: whether a moment to dream, to wonder, to share, to laugh, to celebrate, or to simply enjoy,” the company noted in its press release. “With this funding, Milk Bar will be able to create more of these quirky and human moments—and in even more original ways.”
The company currently has twelve brick-and-mortar locations in New York, NY; Washington, DC; Las Vegas, Nevada; and Toronto, ON, and plans to open two more DC locations in late 2017, as well as a flagship location in Los Angeles in early 2018.
Will this further what the company is calling “a modern-day baking revolution” and bring new fresh-baked flavors to the fore in communities across the country. I, for one, hope so.