After two years of limited self-distribution, Wandering Bear Cold Brew is finding a home for itself on store shelves throughout the Northeast, and a newly completed fundraising round enables the company to trek further.
The New York-based bag-in-box coffee brand completed a $2.4 million equity funding round this week, giving founders Matt Bachmann and Ben Gordon the capital to tackle expanded distribution and a growing product line.
One of the leading investors in the funding round was food and beverage accelerator AccelFoods. Bachmann said AccelFoods has been involved with Wandering Bear since the brand started. M3 Ventures, a strategic investment firm based in New York, and company insiders also invested.
“We are thrilled to deepen our partnership with Wandering Bear,” Lauren Jupiter, AccelFoods Managing Partner, told BevNET. “Matt and Ben represent the type of strategic and innovative founders with which AccelFoods seeks to partner. We look forward to continuing to support the Wandering Bear team as they expand distribution beyond New York and continue to build out their differentiated product portfolio.”