The celebrity-backed PopUp Bagels, which has built a social media-fueled cult following in New York City, now has some capital for expansion.
The bagel concept on Tuesday announced it has raised $8 million in a round led by growth equity firm Stripes, which has invested in such brands as Levain Bakery and Erewhon Organic Grocer. The funding will be used for growth and expanding the concept’s executive team.
The funding round also included some returning investors from an earlier round, including Darren Rovell’s Tastemaker Capital, and Habitat Partners, the investment arm of branding firm Red Antler.
Backers also include Hollywood producer John Davis, who was also an early investor in Wetzel’s Pretzels, Blaze Pizza and Dave’s Hot Chicken. And the concept, which calls itself “not famous but known,” has other famed investors, including actor Paul Rudd and athletes J.J. Watt, T.J. Watt, Michael Phelps and Michael Strahan.
Popup was founded during the pandemic by Adam Goldberg in Westport, Conn., who started making bagels in his home kitchen and sharing with neighbors. It soon grew into a business, and now Popup has six pickup locations in Connecticut and New York City and an active social media following.
The bagels aren’t sold individually.
Bagels must be ordered in servings of three, six or 12 for pickup at specific times and locations, and the bagels are hot from the oven. There’s also a subscription program.
Guests are encouraged to “rip and dip” the bagels into various schmears, like Utz Cheese Ball Cream Cheese or Bowery Farms Basil Pesto Butter, with flavors changing weekly. One social media fan called Popup the “chip and guac” of bagels, because “Americans just love to dip and bite things.”
@jacksdiningroom Trying the viral Popup bagels in NYC 📍Popup Bagels, NYC #nycfood#nyceats#bagels#nycbagels#hotbagels#nycbreakfast#freshbagels#everythingbagel#bagelandlox#foodreview#mukbang#jacksdiningroom♬ original sound - Jack’s Dining Room
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