Sneaker Platform GOAT Raises $100 Million

Since launching in 2015, sneaker resale platform GOAT has grown to 30 million members, 600,000 sellers and with 13 physical locations across the world. A new Series E funding round of $100 million from D1 Capital Partners aims to further accelerate the company’s growth in both 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,” says Eddy Lu, co-founder and CEO of GOAT Group. 

Along with the funding from D1 Capital Partners, GOAT Group has raised nearly $300 million total from venture capital and strategic investors, including Accel, Foot Locker
FL
, Index and Upfront Ventures. “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,” Dan Sundheim, founder of D1 Capital Partners, says in a statement. He adds that as GOAT continues to grow its core business and expand into new categories the company is positioned well in the global e-commerce market. 

The sneaker resale market has already valued at over $2 billion in North America, according to Cowen & Co.
COWN
, and is growing 20 percent annually with the potential to reach $30 billion in value by 2030. The e-commerce nature of sneaker resale sites draws younger shoppers looking to connect with specific brands and streetwear styles.

GOAT started as a sneaker marketplace, but has since expanded to offer apparel and accessories, all with the goal of mixing products from the past, present and future, it says. The 30 million members now reaches across 170 countries and the 13 physical locations in the United States, Asia and Europe including distribution and authentication centers that ship products across the world. The additional funding allows GOAT to open more authentication and distribution centers. 

The GOAT platform currently features over 350 brands across the segments of sneakers, apparel and accessories and has started working with well-known fashion designers to launch new products. 

“Our mission is to bring the world’s greatest products together from the past, present and future,” Lu says, “while providing a premier end-to-end customer experience with a point of view on culture and style.”