CHICAGO, August 13, 2013 – Tiesta Tea, a loose-leaf tea company, announced the closing of their first investment round, for $930,000, led by Crimson Investment Group. The round ended up doubling the company’s original funding goal, which will enable Tiesta Tea to accelerate growth, expand marketing efforts and introduce a new product line.
Since the incorporation of the company in 2010, Tiesta Tea has quadrupled their sales each year. The success of the “Demo Derby”, a unique in-store demo program, has given the young company enough leverage to refuse slotting fees from large grocery chains. This is unheard of in the industry and caught the eyes of angel investment firms, as well as a various private investors.
“We did our best to get investors who are strategic. We wanted investors that would help us get to that next level,” said Dan Klein, co-founder and CEO of Tiesta Tea Company.
Crimson Investment Partners, consisting of Harvard Business School students and alumni, approached Tiesta Tea, passionate about their vision. They set the tone for the investment, making up nearly half of the raise. By the end of the round, Tiesta Tea had to turn down around 15 offers from various investors in the Chicagoland area.
“I have been talking to the big Chicago angel groups for three years working on getting to that point where they give us an offer and here I am making a call, telling them that I didn’t want their money. It was a crazy feeling,” said Klein.
The recent funding from investors allows Tiesta Tea to create new products and ramp up marketing efforts. In addition, Tiesta Tea is expanding upon their in-store demo program, after it proved success by tripling sales in a variety of test grocery stores.
Today, Tiesta Tea’s exotic tea blends are accessible on the shelves of 2,500 stores nationwide.
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ABOUT TIESTA TEA
Tiesta Tea Company is a loose-leaf tea company based out of Chicago, Illinois. Their all-natural, loose-leaf teas are packed with high quality fruits and herbs from all around the world. Their goal is to take the confusion out of tea by organizing the teas into five functional lines that explain the effects they have on the drinker (Energizer, Slenderizer, Relaxer, Immunity and Eternity). They believe this simple approach, along with unique flavors like Kiwi Cherry Bonanza and Banana Split will appeal to the masses and raise awareness for loose-leaf tea. Check out Tiesta’s teas online at www.tiestatea.com or find them in major grocery retailers across the United States. Find out more information about Tiesta Tea Company by going to www.tiestatea.com or calling 312-202-6800. Keep up with Tiesta Tea by following them on Twitter or liking them on Facebook.