INSUBCONTINENT EXCLUSIVE:
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.
