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BucketFeet, the tech company that blends art and footwear, announced a $7.5 million Series A round led byJumpstart Ventures. Additional funding came from Yunsan, international distributor, Gordon Segal, founder and former CEO of Crate & Barrel, Jeff Cantalupo, founder of Listen Ventures as well as Glen Tullman, CEO of Livongo Health.
“We’re incredibly excited about this round of funding, which will allow us to continue to expand our artist network, our global reach, and our ability to develop products that go beyond traditional footwear,” Raaja Nemani, BucketFeet co-founder and CEO, said in a statement. “Highlighting artists’ stories and experiences is absolutely paramount to us – because of this, we’re able to offer something that no other brand can provide.”
The funding will be used towards making key new hires including in-house tech, sales, artist, and content teams, various technological initiatives including a redesign of the existing website, and scaling inventory to meet customer demand. The company also plans to launch a variety of products this year including art accessories, new sneaker silhouettes, and a range of socks. Additionally, BucketFeet will continue to open new brick and mortar stores, which the brand calls studios, following extensive testing of the store and pop-up model in 2014. Expanding on the two currently-opened retail storefronts in New York City and Chicago, there will be at least six retail studios in 2015, including three international locations in Asia.
“While most e-commerce companies are focused on the distribution side of the retail model, we're actually focusing on the customer/user acquisition side,” Nemani said in a previous interview with Built in Chicago. “We feel that our artist network can drive significant content generation which then is a great driver of commerce.”
You can find Bucketfeet at retailers such as Nordstrom, Bloomingdale’s, and Lord & Taylor.
“BucketFeet is already resonating across the world in a way that few brands ever do,” said Rishi Shah, Founder & Managing Partner of Jumpstart Ventures. “The company has a once in a generation opportunity to redefine why consumers shop and how brands are designed. Backing founders like these is why we started doing venture capital and we’re excited to work with Raaja and the growing team to fulfill the company’s potential.”
BucketFeet has raised a total of of $13.3 million to date. Previous investors include Andy Dunn, Co-Founder/CEO of Bonobos as well as Brian Spaly, CEO of Trunk Club and Co-Founder of Bonobos.
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