Insomnia Cookies, a mainstay on college campuses for late night warm, gooey cookie delivery, has raised $3.93 million in equity-based financing, according to a Form D filing. This is the company’s first known venture capital funding to date. Insomnia did not immediately respond to a request for comment.
But here’s what we do know: In 2018, Krispy Kreme Doughnut Corp. acquired a majority stake in the cookie chain, which some reports valuing Insomnia at $500 million. Insomnia was allowed to work as an independent company.
Insomnia was founded in a dorm room in 2003 by Seth Berkowitz, a student at the University of Pennsylvania. Three years later, it opened its first brick-and-mortar store in Syracuse, New York.
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