Goat receives $25 million in funding from Accel, Matrix Partners

By

Obi Anyanwu

Published
Feb 8, 2017

Sneaker marketplace Goat on Tuesday announced that it has received $25 million in funding, increasing its total venture funding to $37.6 million. Accel led the latest funding round, with participation from existing investors Matrix Partners, Upfront Ventures and Webb Investment Network.

 
Goat plans to use the new funding to further expand its team in Los Angeles, in order to support its domestic and international growth. The company also plans to open new facilities to improve operations and logistics. In addition, Ryan Sweeney of Accel will join Goat’s Board of Directors.
 
"While we weren't looking to raise another round, we were excited about the opportunity to work with Ryan and Accel." says Eddy Lu, co-founder and CEO of GOAT. "Ryan is an exceptional investor with a very successful track record. He's also a sneaker enthusiast, so he understands our market well. With Accel as well as our other top tier investors, we not only have the capital, but the guidance to strategically expand our business."

Founded in Los Angeles in 2015, Goat is a mobile marketplace for sneaker sellers and buyers. Sellers list their items on the app and ship to the company for verification of authenticity. The company raised $5 million in funding in 2016, which was also put towards expanding domestically and globally and making key hires.