Cloosiv, a startup offering mobile ordering for independent coffee shops, has raised $1 million in its seed round. The company aims to make local coffee shops competitive with larger chains that offer their own apps.
Coffee-drinkers may crave that convenience, but independent stores don’t necessarily have the resources to build and deploy their own apps. That’s where Cloosiv comes in.
Cloosiv charges the coffee shops a percentage of in-app sales, starting at 12%. As sales volumes grow Cloosiv takes a smaller portion, scaling down to 8% per order. By building a network of local coffee shops on the app, Cloosiv hopes to be “the largest coffee chain in America.”
The startup completed the Y Combinator accelerator program in August, and currently has more than 300 independent coffeeshops on its app.
Here’s the pitch deck that helped secure $1 million in seed funding from investors including Paul Graham, the cofounder of Y Combinator accelerator; Avichal Garg, a former Facebook director of product management; and Louis Beryl, who is founder and former CEO of Earnest.