How Did Cometeer Raise $100M In VC Funding? They Gave Investors A Taste Of Something Great.

How do you convince investors to bet over $100 million on your innovative beverage company? If you're Matt Roberts, you start by making them a great cup of coffee.

Matt is the founder of Cometeer Coffee, which markets innovative frozen coffee capsules crafted using premium coffee beans sourced from leading specialty roasters. The single-serve capsules can be used to make hot or cold coffee, and are produced using a proprietary process in which fresh beans are ground, brewed and flash-frozen to preserve flavors and aromas.

Launched in 2015, Cometeer was developed in partnership with coffee industry legend George Howell, who believes that the brand "will do for coffee what the bottle did for wine." He's not alone in his lofty expectations for the Massachusetts-based company, which has raised venture capital funding from coffee and tech heavyweights, including the founder of Keurig Green Mountain, the former president of Nespresso and lead investors in Blue Bottle Coffee, among others.

Cometeer has built a thriving direct-to-consumer business and is gradually expanding distribution to brick-and-mortar retailers. The brand is currently available in over 500 stores nationwide including Sprouts, Central Market, New Season, and Gelson's.

In the following interview, I spoke with Matt about how he identified the opportunity to disrupt the instant coffee category by delivering a high quality drinking experience, how Cometeer has crafted an effective consumer education strategy and how his constant desire to learn more has helped him become a better leader.

Show notes:

0:35: Matt Roberts, Founder & CEO, Cometeer Coffee – Matt chats about growing up and launching Cometeer in Massachusetts, why the company is based in Gloucester and the city's history as "Freezetown USA." He also talks about the science and process behind Cometeer and why "brew tech" is the company's stock in trade, what he considers to be the company's "moat" and who its' primary competitors are, and gives a brief, but informative, explanation as to how the company captures and preserves coffee at its peak form. He also discusses how scientific validation of the company's processing methods attracted tech and consumer brand investors, why education and trial remains Cometeer's biggest challenge, and its plans to create a mainstream offering. Matt also talks about Cometeer's relationship with roasting partners and coffee farmers, why he's bullish on climate-resistant coffee crops, how "the extended coffee TED talk" and the success of Nespresso have been effective in attracting new investors and how he talks to them about potential M&A deals, and how podcasts (like this one) have been instrumental in his personal education about business and leadership.

Brands in this episode: Cometeer Coffee, Blue Bottle, George Howell, Starbucks, Dunkin Donuts, James Hoffman, Onyx Coffee, Nespresso