Tiff's Treats Announces New $15 Million Capital Raise

AUSTIN, Texas, July 8, 2020 -- Tiff's Treats, the iconic brand that started the warm cookie delivery concept, today announced it raised $15 million in a planned $10 million funding round that includes investors Dirk Nowitzki and Kendra Scott, among others. The investment will help accelerate Tiff's Treats' nationwide expansion and follows $50 million of funding over the past five years that kicked off the company's aggressive growth. Tiff's Treats now has 59 locations across Texas, Georgia, Tennessee and North Carolina.

NBA legend Nowitzki and renowned fashion designer Scott join a heavyweight team of investors in the Tiff's Treats warm cookie delivery experience: 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.

"We're thrilled to welcome our new investors including Kendra Scott and Dirk Nowitzki," said Leon Chen, co-founder and CEO 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 jewelry pieces along with cookies for Valentine's Day and Mother's Day.

"I have long admired the work that my friends Tiff and Leon have done, starting right here in Austin. They have been a beacon of joy, celebration and philanthropy in our community, and I am honored to join them as they continue to expand that effort nationwide. I look forward to supporting and working alongside Tiff's Treats through this next exciting phase of growth," said Kendra Scott, Founder and CEO of Kendra Scott.

"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."

"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 at Tiff's Treats. "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."

Tiff's Treats delivers its signature baked-to-order cookies and brownies from stores across Texas and in Atlanta, Nashville and Charlotte, N.C. 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.

About Tiff's Treats

In 1999, Tiffany Taylor accidentally stood up Leon Chen for a date. As an apology, she baked and delivered a batch of warm cookies, and the concept of warm cookie delivery was born. Tiff and Leon, just 19-year-old sophomores at The University of Texas at Austin at the time, opened Tiff's Treats with $20, a cell phone and a dream. Since then, the business has grown to 59 stores in Texas, Georgia, Tennessee and North Carolina, with more than 1,400 employees, baking more than 100 million cookies since the company started. The founders are now married and the business continues to grow, but Tiff's Treats has the same core mission: creating memorable moments through classic, baked-to-order cookies and specialty desserts from high-quality ingredients, and delivering them straight from the oven to the home or office, warm, in about an hour. Customers can order online, with the Tiff's Treats app or by phone, all supported by industry-leading technology and top-notch customer service. The charitably-minded company continually gives back. On top of hundreds of thousands of cookies per year donated to nonprofit organizations, each new store's grand opening benefits a local charity. To date, Tiff's Treats has donated over $200,000 to worthy causes through these events. To learn more, please visit www.cookiedelivery.com.

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