Popular sneaker reselling platform, The Goat app net worth valuation increases to $3.7B after a successful series F Funding Round Close of $195M. With the round, the company’s valuation has climbed up to $3.7 billion, which is more than double its $1.8 billion valuation following its Series E round back in September 2020.
Heading the financing were Park West Asset Management with funds and accounts advised by T. Rowe Price Associates Inc., Ulysses Management, Adage Capital Management and Franklin Templeton.
“GOAT’s combination of premier e-commerce and brick-and-mortar assets, which include the iconic GOAT and Flight Club brands, enable it to engage its global community in unique ways and capture huge market opportunities across multiple lifestyle categories, while remaining authentic and true to its values.” Tyras Bookman Park West Asset Management portfolio manager said in a statement. “We are delighted to be investing in GOAT. We are excited by its distinct value proposition to customers,”
According to GOAT, the funds will help the company invest into its apparel, accessories verticals In a statement, GOAT said it has achieved gross merchandise value of $2 billion in the last 12 months, and a year-over-year GMV increase in sneakers of more than 100% and a 500% increase in apparel.
“GOAT is creating a leading, highly differentiated luxury and lifestyle brand that is uniquely positioned at the intersection of the primary and resale markets, enabling us to increase our share of a large and expanding total addressable market in our core sneakers business and newer verticals. GOAT Group CEO and co-founder Eddy Lu said in a statement. “GOAT’s growth is accelerating across every channel and category due to the powerful global technology platform we have developed and the premier customer experience we deliver, which resonates with younger consumers around the world,”
Further investment will be used for the growth of the brands global imprint consisting of 13 additional across various location. Including Chicago, China, Japan and Singapore, and will help fuel investments into technology and to boost the experience for its 30 million members and 600,000 plus sellers.