Everyone loves cookies, especially Morgan Stanley Expansion Capital. The VC arm of the big investment banking firm has invested $25 million into Tiff's Treats, an Austin-based warm cookie delivery company.
The Series D investment comes as Tiff's Treats continues to expand to new cities, and it brings the startup's total funding to $50 million, which includes an $11 million round a year ago and a $14 million round in August 2015.
“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,” Tiff’s Treats co-founder Tiffany Taylor Chen said in a news release. “Our warm cookie delivery service is unique, special, and in demand."
The company was co-founded by Tiffany and her husband Leon Chen while they were students at the University of Texas in 1999. It now has 29 stores in Texas, five in the Atlanta area and it just signed a lease in September on a building in Nashville, Tenn. to open in a third state. It has about 750 employees.
While consumers mostly think about Tiff's Treats as the company that makes it easy to get warm cookies and milk delivered to their home, business or to a friend, the startup has spent years developing its ordering and logistics platform, which is a significant part of what makes it so attractive to investors.
Tiff's Treats also released an app on Nov. 1. And it just opened a new, 12,000-square-foot headquarters in Northwest Austin at 8310 N. Capital of Texas Highway.
