Goat, a Los Angeles, CA-based mobile sneaker marketplace, raised $25M in funding.
The round was led by Accel, with participation from existing investors Matrix Partners, Upfront Ventures and Webb Investment Network. In conjunction with the funding, Ryan Sweeney of Accel will join Goat’s Board of Directors.
The company, which has raised a total of $37.6M in venture funding to date, will use the capital to accelerate domestic and international growth, expand its team in Los Angeles with key hires in engineering, operations, product and marketing, and open additional facilities to improve operations and logistics.
Founded in 2015 by Eddy Lu, CEO, Goat allows people to buy and sell authentic sneakers through a mobile device. It enables people to buy rare and discover new sneaker releases, and earn money by listing the ones they already own. It features an authentication service, buyer protection guarantee and a customer service. The app, available to download on the App Store and Google Play for free, has been downloaded by 1.5M members.