Last Crumb has completed a $ 1 million seed round to expand production of its luxury biscuit line.
Matthew Jung was initially reluctant to join Last Crumb, a luxury biscuit brand that sells street fashion and celebrity culture-inspired premium goodies online for $ 140 per curated box of 12 biscuits – for the same reason many still do It’s hard to believe that consumers would pay nearly $ 12 apiece for the most popular snack of all time.
However, previous sales of the brand direct to consumers dispel all this suspicion: Packaged in a similar style of fine wines, designed by the Trüffel branding agency and handcrafted in limited batches with high-quality ingredients, Last Crumb has sold over $ 1 million in the The value of cookies from weekly drops in just three months, and the number of buyers on the waiting list continues to grow significantly.
Derek Jaeger has combined a high-end luxury experience with everyday snacks for over a decade and co-founded Last Crumb with digital marketing veteran Alana Arnold after spending nearly two years formulating and perfecting their recipes made through a proprietary three day dough preparation process.
“We use the best ingredients and have built a baking system specially tailored to the end user,” says Jaeger. “It was an OCD approach to every single flavor and cookie we brought out.” These 12 flavors, which range from the most popular chocolate chips to cinnamon toast crunch and birthday cakes, give traditional biscuits a name when it comes to naming them edgy note – “The Madonna” for the taste of peanut butter and milk chocolate and “Donkey Kong”, which combines the creaminess of ivory white chocolate, thick pudding and marshmallows, to name but a few.
Last Crumb’s packaging, designed by the Trüffel branding agency, aims to create the similar consumer … [+]
The goal is to “give every cookie a story that comes to life with every bite,” says Arnold. “We wanted this to be like a conversation starter that brings people together because our slogan is’ Cookies are so good your grandmother will deny you ” – we stand by that.”
Last Crumb’s strategy of focusing on premium experience, storytelling and exclusivity has proven itself in cultivating a loyal fan base who actively share and interact with their products on social media. “We spent zero dollars on marketing,” said Jung, “because these social posts and videos were out of the box.” [our cookies] have a really interesting flywheel effect – the more people we sell cookies, the more people talk about us. “
With a fresh injection of just over $ 1 million in capital, led by a group of high profile food and beverage entrepreneurs, consultants, and venture capitalists, the company, also known for offering the Rolex or Saint Laurent biscuits, is expected , Manufacturing is expanding capacity and skills, and hiring new employees who, together, will help triple sales in the near future.
These investors include the world-famous entertainer Zedd; Austin Rosen, founder of Electric Feel Ventures; Co-founders of TRUFF Hot Sauce, Nick Ajluni and Nick Guillen; Founder of Larry & Lenny’s Cookies, Barry Turner through Talisker Ventures; Founders of The Stable, Nik Larsen and Chad Hetherington; Nik Sharma; Room 9; Riverside ventures; and private equity investor Michael Silverstein.
Last Crumb plans to roll out a total of 80 flavors over time with the goal of prioritizing consumers … [+]
Riverside Ventures attributes Last Crumb’s weekly sell-off to its 100% digital playbook and ability to delight consumers. “It’s amazing to see people miss their weekly cookie drop and become more motivated and enthusiastic to have them the following week,” commented the VC company. “It feels similar to SoulCycle customers who register with the second open bike. The demand after only a few months on the market is overwhelming. “
Silverstein, who has served on the board of directors of a variety of high-growth CPG brands, including Better Booch Kombucha, believes Last Crumb cookies offer technical, functional, and emotional benefits. “At Last Crumb, tasting is belief,” he said in a statement. “This is a product built on better ingredients, better recipes and creativity… No bulk packaging company can imagine the kaleidoscope of chocolate, caramelized butter, Maldon sea salt, lemon, espresso, macadamia nuts, caramel, vanilla and fluffy marshmallows. It’s like a wizard has come to your home with magical recipes. “
For the next 18 months, Last Crumb will continue to focus on brand building while expanding production and fulfillment at a facility in California that is seven times the size of the previous facility. In the end, the team will develop a total of 80 flavors that will be presented to consumers over time, says Jung. But one thing remains the same: The customer experience always comes first.
“If we can pay off the customer experience, then we can pay off building a great brand. Sales will come organically, and then the right opportunities will arise, ”said Jung,“ We don’t have factory machine lines that cut and spit. ”Perfectly shaped biscuits; people do these and we ship a lot of boxes pretty quickly to keep them fresh. “
Regarding Last Crumb’s future growth trajectory, he added, “We haven’t even scratched the surface. I think our values won’t change no matter which channel we explore later. “