Blank Street raises $75M Series B at $650M valuation for west coast push

Blank Street, a six-year-old coffee chain originating from a single cart in Brooklyn, has secured a $75 million Series B funding round led by General Atlantic. This funding elevates the company’s valuation to approximately $650 million, a rise from $500 million in 2025. The company operates over 100 stores primarily in London and New York, aiming to expand into a broader daily luxury brand. Beyond coffee, it now offers matcha, snacks, and ice cream. Sales trends indicate peak afternoon activity, prompting menu, store design, and operational adjustments. The capital will fund expansion into affluent West Coast regions, including Beverly Hills, West Hollywood, and Malibu, deepening its presence beyond core markets and challenging competitors like Starbucks and Costa Coffee. Existing backers, including Left Lane Capital, General Catalyst, and Tiger Global, participated in the round. Investor expectations for a valuation closer to $1 billion were not met. The funding ranks among the top 5% of US food Series B rounds over the past four years, reflecting growing interest in physical retail from consumer and tech investors, who see it as less vulnerable to AI disruption. General Atlantic, which also owns Joe & The Juice, highlights the enduring demand for out-of-home coffee and matcha across the US and UK. Blank Street’s strategy focuses on matcha’s social media appeal to anchor an all-day brand experience beyond traditional morning coffee stops.