11.8 C
New York
Monday, November 30, 2020
Home STARTUPS The direct to consumer department store Neighborhood Goods has raised $11 million

The direct to consumer department store Neighborhood Goods has raised $11 million

Neighborhood Goods, the direct to consumer department store hawking brands like Rothy’s, Dollar Shave Club, Buck Mason, Draper James and Stadium Goods, has new cash to expand its storefront for e-commerce juggernauts.

The company has raised $11 million in a new round of financing led by Global Founders Capital, with participation from previous investors Forerunner Ventures, Serena Ventures, NextGen Venture Partners, Allen Exploration, Capital Factory and others.

The Dallas-based startup has raised $25.5 million to date and is expanding into a new location in Austin to complement its stores in Plano, Texas and a location in New York, opening soon, according to the company’s chief executive and co-founder Matt Alexander.

The Neighborhood Goods concept, providing a brick and mortar outlet for online brands, is one that dovetails nicely with backers like Global Founders Capital and Forerunner Ventures, which are both longtime investors in direct to consumer startups.

“As we expand our network of brands, we’re so thrilled to have Neighborhood Goods as a core element of our portfolio for them to test, assess, explore and learn about the impact of physical retail as they grow,” said Global Founders Capital investor Don Stalter.

As the company expands its geographic footprint, it’s also experimenting with different online features, like online browsing of in-store collections and the option for physical, in-store pickup of digital orders. Neighborhood Goods also said it will begin offering an analytics back-end for brand partners to provide data on activations and branded events at the company’s stores.

Source: TechCrunch

Follow Us On Facebook, Twitter & Instagram Please Share Your Stories, Press Release & Articles At [email protected]. To Read More News Daily, Subscribe To Our Push Notification at https://www.inventiva.co.in/
This article is automatically sourced by automatic news feeds through online softwares, Inventiva team has not made any modifications and adjustments in the article and is published as it is after giving due credits to its original source.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

WORKFORCE RISK REACHES FIVE YEAR HIGH REVEALS INTERNATIONAL SOS RISK OUTLOOK 2021

30 November 2020, Mumbai – The risk level to the global workforce has reached its highest since 2016 according to the findings of the...

Benefits of living in Student halls

In most universities, first-year students have healthy, convenient and right value places in their residence halls. They usually come with a standard kitchen, toilet,...

RBI likely to maintain status quo for 3rd straight time on inflation concerns

The Reserve Bank is likely to keep the benchmark interest rates unchanged in its next monetary policy review in view of heightened retail inflation...

Five of top 10 most valued firms lose together Rs 91,699 cr m-cap; RIL worst hit

The combined market valuation of five of top-10 most valued firms declined by Rs 91,699 crore last week, with heavyweight Reliance Industries emerging as...

Recent Comments

%d bloggers like this: