We reported earlier this month that BucketFeet is on the verge of making some big moves, including introducing new products like sandals and boots, possibly expanding into other U.S. markets in the South and West, and adding more staff. Today the shoe company took a major step toward some of those goals by announcing it has raised a round of $3.7 million.
It raised $2.7 million last November and another $1 million since, CEO Raaja Nemani said in an email. The company has raised a total of $5.8 million.
Leading the second-round financing were Bridge Investments and Jumpstart Vent, with participation from Levy Family Partners, Listen Ventures, Revelry Brands Founder Brendan Synnott, Former CEO Allscripts Glen Tullman, and Crate & Barrel Founder Gordon Segal, the company said.
BucketFeet plans to use the funding to expand its team, build its artist network, and support product development.
“BucketFeet is more than just a consumer product company, they are creating a movement by connecting people through art,” Listen Ventures founder Jeff Cantalupo said in the news release. “In a world where authentic content and consumer passion is driving the brands of the future, BucketFeet is a powerful co-creation platform that drives commerce through engaging content."
After launching as an online startup in 2011, BucketFeet has quickly made a name for itself in the footwear industry. It sells shoes in more than 20 countries, has opened brick and mortar shops in Chicago, New York and Taiwan, sells shoes in national retail stores such as Nordstrom and C. Wonder, and has worked with 3,000 artists from more than 40 countries to produce one-of-a-kind shoes for its customers. And Nemani said the company has more than tripled its sales each year since it opened.
“We’ve grown 2,500 percent since the first year we launched, and this new round of capital will let us continue to accelerate our growth,” Nemani said. “I think this is a testament to the network and products we’ve created. We’re excited to continue finding new artists and building a global brand."
