A few years back a conversation with the CEO of a fast-growing coffee chain illuminated their expansion strategy. He said something along the lines of “there are three use cases for a neighborhood: work, live, play. Anywhere that’s at least two of these three can support one of our stores.” And so when we look at Stockwell, a smart retail experience which fits into spaces where you might live (apartment buildings, dorms, hotels), work (offices, coworking spaces), or play (gyms, arenas), it’s easy to imagine a path to ubiquity.
That’s what we saw when we invested in its seed round and, as announced last week, DCM and NEA identified in leading its Series A and B, respectively. With more than $45 million in financing and over 1,000 Stockwell stores in four cities, there’s a lot to be proud of, but a lot more work to do. They’re hiring in Oakland HQ and across the Bay Area, Houston, Los Angeles and Chicago.