OEN Member NewsStumptown- and Crux-propelled Bend coffee co. lands $1M from highfalutin investors (Portland Business Journal)

A booming, and well-pedigreed, Bend-based cold brew coffee specialist has procured $1 million from a who’s who list of investors.

Riff Cold Brewed Coffee will use the money to, among other strategies, open what’s likely the world’s first taproom dedicated to cold brew, The money will also help Riff enhance its 9,000-square-foot Redmond production facility and operate its newly opened Riff Cold Brewed Tapshack at the University of Oregon’s Eugene campus.

Riff was founded by Paul Evers, who co-founded the Bend beer favorite Crux Fermentation Project, along with former Stumptown exec Nate Armbrust and Steve Barham, an ex LinkedIn senior director.

The endeavor has backing from several big-name Oregon entrepreneurs (the full list is here), including Smarsh’s Steve Marsh, Hydro Flask’s Scott Allan, Sightbox’s Travis Rush and Rogue Ventures partner Tom Sperry.

Riff has earned a good reputation during its short tenure. It expects to count 500 distribution points by 2019 as its cold brew, which is naturally flavored with unusual profiles — its products include notes of bing cherries and stonefruit, among other touches — reaches new audiences.

Hydro Flask’s Allan said in a release the company’s leader attracted him to the Riff effort.

“As I became more familiar with the cold brewed coffee space, and the massive consumer migration—especially Millennials and Gen Z’ers — to all-natural products from those with additives and sweeteners, I was convinced Riff will be one of the next great craft beverage brands,” he said.

Source: www.bizjournals.com