Tiff’s Treats, the cookie delivery service that students use to celebrate special occasions or just as a late-night snack, announced a $25 million investment raised to help grow the company on Nov. 15.
The investment is led by funds managed by Morgan Stanley Expansion Capital. In the past three years, Tiff’s Treats has raised $50 million in investments, earning $11 million in 2016 and $14 million in 2015.
Founders Leon Chen and Tiffany Taylor, both UT alumni, started Tiff’s Treats in 1999.
“Seeing our brand take off like it is, and be so warmly received into new markets validates what we’ve believed for nearly two decades now,” Taylor said in a statement.
The pair opened their first store in Austin in 2000. Today they have 34 stores in total both inside and outside of Texas, having added 10 just in the last year. The location nearest UT is at Martin Luther King Jr Boulevard and Nueces Street.
Tiff’s plans to open at least 10 more stores in 2018 and 15 in 2019, according to reports from The Dallas Morning News.
Taylor said the $50 million investment will help Tiff’s Treats continue to grow and deliver more warm cookies.
“Our warm cookie delivery service is unique, special, and in demand,” Taylor said in the statement. “Our company continues to grow, but each of our new locations is as committed as our very first to ensuring the Tiff’s Treats experience: a quality product delivered fast, fresh, and warm, by our team of dedicated employees.”
Undeclared freshman Kaylee Knights said it’s inspiring to see the UT alumni grow their business.
“I think that is super awesome that they are expanding and that UT students are being successful out in the world,” Knights said.
Biomedical engineering freshman Amruta Deole said she has used Tiff’s Treats’ delivery service when she wanted a late-night snack because they are open late and eliminate the need to walk through West Campus at night.
“We just wanted to get Tiff’s Treats at like 11:30,” Doele said. “We called, placed the order and they were at our door. I really liked it.”