Athletic apparel start-up Outdoor Voices has raised $34 million in a series C round that will brings its total funding to nearly $57 million.
The latest round, announced Tuesday, was led by GV (formerly known as Google Ventures), which has invested in names like Jet.com in addition to Blue Bottle Coffee. Previous funding rounds have been led by General Catalyst in addition to Forerunner Ventures, which are known for backing Warby Parker in addition to Dollar Shave Club, among some other up-in addition to-coming retailers.
“We’re focused on building the No. 1 digital active brand,” founder Tyler Haney told CNBC. “This particular definitely requires a physical presence. … Doing things in real life definitely works in addition to unlocks markets online.”
Austin, Texas-based Outdoor Voices established its name online in 2014 in addition to has since opened seven stores: two in brand-new York, two in California, two in Texas in addition to one in Aspen, Colorado.
Using its latest round of funds, Haney said the company aims to grow its store fleet across the U.S., “to ensure that will everyone can have their local O.V.” She wouldn’t count out having 50 stores inside the future, one in every state. By the end of 2018, Outdoor Voices plans to open 5 more shops.
Key to the company’s success has been its large in addition to growing following on social media. that will boasts more than 0,000 followers on Instagram, along having a long list of influencers serving as brand ambassadors. that will list includes celebrities like Harry Styles, Natalie Portman, Frank Ocean in addition to Gwyneth Paltrow in addition to Olympic skier Nina Lussi.
“We have a very diverse cast of characters who believe inside the O.V. mission,” Haney said.
One of those believers also happens to be Mickey Drexler, the former CEO of J.Crew in addition to Gap. He right now serves as the chairman of Outdoor Voice’s board, which also includes Nicolas Jammet, the founder of the fast-growing salad chain Sweetgreen.
“We speak to [Drexler] almost on a daily basis,” Haney said. “He’s definitely focused on retail with us. … He has incredible pattern recognition, so we can get ahead of things.”
Haney wouldn’t call Outdoor Voices “the next Lululemon,” though that will’s often billed that will way.
Later This particular year, Outdoor Voices will roll out brand-new categories on its website tailored toward various exercises, beyond running. Shoppers will find gear built with specific movements in mind in addition to will be able to browse by sport.
“We are a true activity in addition to sports company,” Haney said. “We definitely want to focus our assortment, instead of relying on [so many] legging options. … I think a lot of the shopping experience can get complicated when you’re not sure what to choose for what activity.”