NEW YORK — PopUp Bagels announced it has closed an $8 million capital raise. The investment will help the bakery grow its operations and expand its executive team.
The most recent round of capital funding was led by Stripes, a NYC-based growth equity firm. Investors in the previous round, including Darren Rovell’s Tastemaker Capital and Habitat Partners, the investment arm of Red Antler, also returned to co-invest.
Adam Goldberg, founder of PopUp Bagels, began baking out of his home kitchen during the pandemic as a way to pass the time. He handed his bagels out to neighbors and soon, through word of mouth, gained a loyal following, with people ordering online for pickup at specified times and locations.
“When I started all of this out of my home, it was just because I thought the bagel could use improvement,” Goldberg said. “I am so humbled by the response over the last year, from the hour-long lines that form to the simple first reactions in the most scrutinized market for this product. It was not long before I realized we needed to finance our operation to allow more of the world to experience the PopUp Bagel way.”
Having won the Brooklyn Bagelfest’s “Best Bagel” two years in a row, PopUp engaged in a significant capital raise last year led by John Davis, a Hollywood producer and food concept investor. The capital allowed the company to expand its retail footprint in Greenwich, CT, and Greenwich Village, NY.