Total amount raised
$492.6 Millions
Latest funding date
Location
Goat Group has successfully raised funds through multiple rounds, with the last known round being Series F on June 24, 2021. The company is backed by a mix of strategic investors and venture capital firms, including Foot Locker, Inc., Accel, and Andreessen Horowitz.
Keep reading to explore the intricacies of Goat Group's fundraising journey and the investors backing this innovative platform.
What Is Goat Group?
Goat Group, founded in 2011 by Daishin Sugano and Eddy Lu, is a marketplace for authentic sneakers, apparel, and accessories. The company is headquartered in Culver City, California, and operates under the brands GOAT and Flight Club.
With an employee count ranging from 1001 to 5000, Goat Group has established itself in the apparel, consumer goods, e-commerce, fashion, marketplace, and shoes industries. The company has distribution and authentication centers in the United States, Asia, and Europe, shipping products to 170 international markets.
How Much Funding Has Goat Group Raised?
- Angel Round
- Amount Raised: $1.6M
- Date: May 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial market entry.
- Seed Round
- Amount Raised: $6M
- Date: June 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the platform and expand the initial user base.
- Series A
- Amount Raised: $5M
- Date: August 2016
- Lead Investors: Matrix
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the technology infrastructure.
- Series B
- Amount Raised: $25M
- Date: February 2017
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and increase inventory.
- Series C
- Amount Raised: $60M
- Date: February 2018
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the product line and enter new markets.
- Series D
- Amount Raised: $100M
- Date: February 2019
- Lead Investors: Foot Locker
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen the company's market position and enhance customer experience.
- Series E
- Amount Raised: $100M
- Date: September 2020
- Lead Investors: D1 Capital Partners
- Valuation at Round: $1.8B
- Motivation Behind the Round: To support rapid growth and expand global operations.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: January 2021
- Lead Investors: Groupe Artémis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage strategic partnerships and enhance brand value.
- Series F
- Amount Raised: $195M
- Date: June 2021
- Lead Investors: Park West Asset Management
- Valuation at Round: $3.7B
- Motivation Behind the Round: To invest in growth, expand verticals, and increase global footprint.
Total Amount Raised: $492.6M. Current Valuation: $3.7B.
Key Investors
- Foot Locker, Inc.
- Details: Foot Locker, Inc. is a leading global retailer of athletic footwear and apparel. The company operates approximately 3,000 retail stores in 27 countries.
- Investment Focus Areas: Retail, e-commerce, athletic footwear.
- Notable Investments: Goat Group, Carbon38, Rockets of Awesome.
- Accel
- Details: Accel is a venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of growth.
- Investment Focus Areas: Technology, consumer goods, software.
- Notable Investments: Facebook, Dropbox, Slack.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm, founded in 2009, that backs bold entrepreneurs building the future through technology.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Airbnb, Lyft, Pinterest.
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies with a focus on e-commerce, fintech, and enterprise software.
- Investment Focus Areas: Technology, consumer goods, fintech.
- Notable Investments: Dropbox, Etsy, Robinhood.
- Matrix Partners
- Details: Matrix Partners is a venture capital firm that has been investing in early-stage companies for over four decades, focusing on technology and consumer sectors.
- Investment Focus Areas: Technology, consumer goods, software.
- Notable Investments: HubSpot, Zendesk, Oculus.
What's Next for Goat Group?
Goat Group stands at the cusp of significant growth opportunities, driven by its expansion in the sneaker business and newer categories like apparel and accessories. With a gross merchandise value of $2 billion and a global footprint that includes new facilities in Chicago, China, Japan, and Singapore, the company is well-positioned to leverage its strategic position at the intersection of primary and resale markets.
Future fundraising opportunities seem promising, given the company's recent successful funding rounds and substantial valuation increase to $3.7 billion. These funds will likely support further investments in technology, brand enhancement, and global expansion. However, Goat Group may face challenges such as managing rapid growth, navigating international markets, and staying ahead of competition from other online marketplaces and traditional retailers.
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