NBA legend Dirk Nowitzki and fashion designer Kendra Scott have joined as leading investors alongside Venturi Private Wealth in new funding round for the warm cookie delivery brand
Tiff’s Treats, the iconic brand that started the warm cookie delivery concept, has raised $15 million in a planned $10 million funding round that includes investors Dirk Nowitzki, Kendra Scott, and Venturi Private Wealth as lead investors, among others.
Headquartered in Texas, Tiff’s Treats delivers its signature baked-to-order cookies and brownies from stores across Texas and in Atlanta, Nashville and Charlotte, North Carolina. The fresh capital will set in motion a nationwide expansion.
“We’re thrilled to welcome our new investors including Kendra Scott and Dirk Nowitzki,” said Leon Chen, co-founder and chief executive at Tiff’s Treats.
“Kendra, a hugely influential entrepreneur and philanthropist, is someone we’ve known for several years and have been a big fan of both personally and professionally. We’re thrilled to have her join our team.”
Tiff’s Treats recently partnered with Kendra Scott to deliver jewellery pieces along with cookies for Valentine’s Day and Mother’s Day.
“Dirk has brought so much joy to the City of Dallas, where Leon and I grew up,” said Tiffany Chen, co-founder and chief cookie officer. “Having met him through a couple of our current investors, we could instantly see that his joy and cheerfulness was infectious and a perfect match for our mission of spreading happiness through warm cookie moments.”
NBA legend Nowitzki and fashion designer Scott join a heavyweight team of investors in the Tiff’s Treats. The line-up includes PE firms CIC Partners, led by Mike Rawlings, former Pizza Hut CEO and Mayor of Dallas, and Morgan Stanley Expansion Capital; a host of former c-suite executives from major retail/restaurant brands such as Starbucks and Whole Foods Market; and brand ambassadors Brooklyn Decker and Andy Roddick.
“I have long admired the work that my friends Tiff and Leon have done, starting right here in Austin,” said said Kendra Scott, founder and chief executive of Kendra Scott. “They have been a beacon of joy, celebration and philanthropy in our community, and I am honoured to join them as they continue to expand that effort nationwide.”
The new investment follows a $50 million of funding over the past five years that kicked off the company’s aggressive growth.
“I’m excited to be part of team Tiff’s Treats,” said Dirk Nowitzki. “Thrilled to be part of the journey to see this great brand grow.”
Tiff’s Treats hired 500 new team members this spring, pushing its team member count to over 1,400. During the Covid-19 pandemic, the business has committed more than $1 million to its employees in the form of bonuses, pay raises and a new paid time off benefit for all hourly employees.
Date published: 8 July 2020