GOffee, a NYC-based B2B coffee delivery company, announced today via press release that it has raised $1.07 million dollars in equity crowdfunding via its StartEngine campaign. This brings GOffee’s total amount of funding raised to $1.17 million.
GOffee works with corporate customers to provide a coffee or tea drink delivery service directly to workers’ desks. An employee places their order (GOffee features 24 different brands of coffee) via web or mobile app. GOffee’s baristas make the drink (flat white, Americano, cappuccino, etc.) and it’s poured into a reusable travel mug (no paper cups). The next day GOffee picks up the mugs for cleaning and re-use.
The company says this beats existing coffee delivery in a few ways. First, unlike getting Starbucks via Uber Eats, GOffee is running the whole stack: Taking the order, making the drink and doing the delivery. So there isn’t a lot of “down” time where the coffee sits waiting for a pickup. Second, because it is packaged in a travel mug, the drink is much easier to transport (no wrapping in plastic wrap). And because the mugs are reusable, there’s much less waste.
The question for GOffee is whether companies will pony to help their employees get their morning fix. GOffee offers plans ranging from $499 – $2,000 a month for drink delivery, depending on the number of employees. In its press release, GOffee says that a company with 30 employees would pay $799 a month, which covers the cost of the drinks and delivery.
It might actually be worth it to save on minutes lost when people leave the building for (or are late to work getting) a morning brew. GOffee listed 11 corporate customers in its press release, all of which are in the company’s delivery zone of the Garment District/Times Square in New York City. With the new funds, the company plans to expand delivery across Manhattan in 2020.
GOffee is actually the second startup we’ve written about in as many weeks that has turned to StartEngine to equity crowdfund. Last week GoSun (noticing a GO trend here), which makes solar ovens, launched its own crowdfunding campaign.
There are other reusable coffee cup programs out there from startups like CupClub and Vessel Works, but GOffee appears to be the first to target companies and offer delivery and to incorporate reusable mugs into people’s everyday routine. Perhaps this crowdfunding will give GOffee enough of a cash jolt to attract larger, more institutional funding.
UPDATE: An earlier version of this post said that GOffee’s monthly fee only covered delivery. It actually includes the price of the drinks as well.
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