Goat raises $100 million to fund growth
Los Angeles-based online marketplace Goat announced on Wednesday the closing of a Series E funding round of $100 million from D1 Capital Partners, which will aim to accelerate the company's growth across its product categories and geographies.
"We will utilize this new round of funding to capture the significant market opportunities in sneakers, apparel and additional categories through technological innovation and by building even greater scale across our verticals,” said Eddy Lu, co-founder and CEO of Goat.
Since launching in 2015, the company has raised nearly $300 million from venture capital and strategic investors including Accel, Foot Locker, Index and Upfront Ventures. The latest funding round brings the company’s net worth to a whopping $1.75 billion.
The company, which has 30 million members, has equally opened 13 physical locations in the U.S., Asia, and Europe, including distribution and authentication centers that ship products to 170 international markets.
"We witnessed the impressive success that catapulted Goat to become a top player in the sneaker space and were drawn to their disciplined operational approach and differentiated value proposition," said Dan Sundheim, founder of D1 Capital Partners.
He added that as Goat continues to grow its core business and expand into new categories, it is well positioned as a global e-commerce platform.
Over the last year, the sneaker marketplace has expanded into apparel and accessories to today offer over 350 brands across sneakers, apparel and accessories, including pieces from Acne Studios, Maison Margiela, Off-White, Stussy, Gucci and Saint Laurent, among others.
"Our mission is to bring the world's greatest products together from the past, present and future, while providing a premier end-to-end customer experience with a point of view on culture and style," said Lu.
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