The sneaker and apparel marketplace has raised $195 million in a Series F funding, led by a group of investors including Park West Asset Management, funds advised by T. Rowe Price and Franklin Templeton, amongst others.
Parent company Goat Group’s valuation is now more than double its September 2020 valuation, the company said in a statement.
Goat is one of the rising players in the sneaker resale market. Goat competes against Stadium Goods, which was acquired by Farfetch for $250 million in 2018, and StockX, which has a valuation of $3.8 billion following an April round of fundraising.
Goat said it sold $2 billion worth of product over the last 12 months, and that its sneaker sales have doubled. It began selling luxury apparel in 2019, and the company said fashion sales grew 500 percent over the same time period.
Goat said it will use its latest funding to expand internationally. It will open new fulfilment centres in Chicago, China, Japan and Singapore.
To read more about the booming men’s resale market, read BoF’s analysis from March here.