Neighborhood Goods, a Dallas, TX-based developer of a new retail concept, raised $5.75m in seed funding.
The round was led by Forerunner Ventures, with participation from Maveron, CAA Ventures, Global Founders Capital, NextGen Venture Partners, Revolution’s Rise of the Rest Seed Fund, Michael Dubin (Dollar Shave Club) and Alan P. Shor (The Retail Connection), the latter of whom will also be joining the company’s board of directors.
Co-founded by Matt Alexander and Mark Masinter, Neighborhood Goods is a new retail concept that will unite sought-after brands with their ideal target customer through activations in both the physical and digital landscapes with features such as its own bar, restaurant, social spaces, event programming, and speaker series.
The company will launch its first location, iOS app, and e-commerce platform this fall. The first store will open in Plano, Texas in a prime location to be announced soon. The 13,000 square-foot store will house roughly 15 brands — from local, independent brands to multinational, household names — on an changing basis.