GOAT Group valued at $3.7 billion after mega Series F round

GOAT Group, a US-based marketplace for sneakers, apparel, and accessories, has closed a Series F funding round of $195 million, and notched up a valuation of $3.7 billion.

This was led by Park West Asset Management, funds and accounts advised by T. Rowe Price Associates, Franklin Templeton, Adage Capital Management and Ulysses Management.

GOAT, which was founded in 2015, will use the proceeds from the round to further invest in growth in its sneaker business as well as its apparel and accessories verticals.

It also plans to increase its global footprint of 13 facilities with the addition of Chicago, China, Japan and Singapore, and make significant investments in its technology and brand.

“Our 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," says Eddy Lu, Co-Founder and CEO at GOAT Group.

#GOATDIY ends soon. Share your creativity by Monday, July 12 at 11:59 PM PT.

1) Create a customized sneaker using the materials of your choice (https://t.co/6frwK23Mvw)
2) Follow @GOAT on Instagram
3) Post your DIY pair and tag #GOATDIY in the captionhttps://t.co/ZRrTPdKcIB pic.twitter.com/CLgb4jLop0
— GOAT (@goatapp) June 23, 2021

He adds: "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.”

Tyras Bookman, Portfolio Manager at Park West Asset Management, comments: "GOAT's combination of premier e-commerce and bricks 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.”