Goat Group, a US-based streetwear marketplace operator backed by footwear retailer Foot Locker, has secured $195m in a series F round that valued it at $3.7bn.
Hedge fund manager Park West Asset Management led the round, which included investment firm Ulysses Management, fellow fund managers Franklin Templeton and Adage Capital Management, and funds and accounts advised by T Rowe Price Associates.
Founded in 2015, Goat Group runs multiple online marketplaces where users can buy and sell clothing, footwear and accessories.
The company has more than 30 million members and 600,000 sellers across its platforms: Goat, Flight Club and Alias. It claims that $2bn of merchandise was sold through those platforms in the past 12 months.
Goat Group will use the funding to drive growth and expand its operations into China, Japan and Singapore as well as the US city of Chicago, while making significant investments in technology and branding.
In January 2021, Goat Group secured an undisclosed amount of funding from investment holding company Groupe Artemis.
The company had received $100m in series E funding from investment firm D1 Capital Partners in September 2020, valuing it at $1.8bn. Foot Locker had invested $100m as part of a strategic partnership in early 2019.
Index Ventures led a $60m round for Goat Group in 2018 that was also backed by Matrix Partners, Webb Investment Network, Upfront Ventures and Accel, the four having supplied $25m for the company in 2017, with Webb Investment Network, Upfront and Matrix Partners participating as existing investors.
Photo courtesy of Goat Group.