Blank Street raises $75M Series B at $650M valuation for west coast push
What's the deal? Blank Street, the six-year-old coffee chain that began as a single cart in Brooklyn, has raised a $75 million Series B led by General Atlantic. The round values the company at about $650 million, up from $500 million in 2025.
What's the endgame? The company runs more than 100 stores, mostly in London and New York, and wants to become a "broader daily luxury brand." It's serving coffee in the morning and matcha, snacks, and ice cream later in the day.
Why now? Co-founder Issam FreihaDealroom has a profile for this one. Try Dealroom → says most sales now come in the afternoon, with the fastest-growing period after 16:00. That has prompted changes to the menu, store design, and operational flow.
West coast expansion: The fresh capital funds a push into affluent parts of California, with branches opening in Beverly Hills, West Hollywood, and Malibu. The move deepens Blank Street's presence beyond its two core markets as it challenges StarbucksDealroom has a profile for this one. Try Dealroom → and Costa CoffeeDealroom has a profile for this one. Try Dealroom →.
Existing backers Left Lane CapitalDealroom has a profile for this one. Try Dealroom →, General Catalyst, and Tiger Global also joined the round. Some investors had hoped the deal would push the valuation closer to $1 billion, but Freiha says those expectations are incorrect.
The raise sits in the top 5% of US food Series B rounds over the past four years, a sample of 98 deals. That reflects wider interest from consumer and tech investors in physical retail, which they see as less exposed to disruption from AI.
The signal: General Atlantic, which also owns Joe & The JuiceDealroom has a profile for this one. Try Dealroom →, says out-of-home coffee and matcha remain a large, growing category with durable demand across the US and UK. Blank Street's bet is that matcha's social-media pull among younger consumers can anchor an all-day brand — not just a morning coffee stop.
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Image credit: Blank Street
