Goat Group, a Los Angeles-based digital fashion marketplace, has recently raised $195 million in its Series F funding round. This funding has more than doubled the company’s valuation from $1.8 billion to $3.7 billion, as Goat looks to expand its international presence.

The funding will be used to fuel the growth of Goat’s sneaker business, as well as its apparel and accessories verticals, which have been experiencing rapid success. Additionally, the company plans to establish new locations in Chicago, Japan, and Singapore, in order to expand its global footprint. Goat also intends to invest significantly in its technological capabilities.

Leading the funding round was Park West Asset Management, accompanied by notable investors such as T. Rowe Price Associates, Franklin Templeton, Adage Capital Management, and Ulysses Management. It is worth mentioning that Groupe Artemis, founded by Kering CEO François-Henri Pinault, had previously made a strategic investment in Goat in January 2021.

Since its inception as a sneaker marketplace in 2015, Goat has experienced impressive growth. In the past year alone, the company achieved a gross merchandise value of $2 billion. The sneaker business witnessed a 100% increase in gross merchandise value year over year, while the apparel segment, launched in 2019, saw a remarkable 500% rise.

Eddy Lu, co-founder and CEO of Goat, expressed his enthusiasm regarding the company’s growth across various channels and categories. He emphasized Goat’s goal of becoming a leading luxury and lifestyle brand that holds a unique position at the intersection of primary and resale markets. This positioning allows them to capture a larger share of the expanding total addressable market in their core sneakers business and other verticals.

Currently, the Goat platform boasts 30 million members and 600,000 sellers. With its increased valuation and the recent funding, the company is well-positioned for further expansion and innovation within the fashion marketplace industry.

Useful links:
1. Goat Group Official Website
2. Forbes Article: Goat Announces Series F Funding Round