The past year has marked a crucial turning point for Colorado-based The Pro’s Closet. The company, which buys and sells pre-owned bicycles, experienced tremendous growth in 2020 and moved into a new facility in Louisville to accommodate its plans. With the demand for bikes skyrocketing during Covid-19, the company saw its sales double. Recently appointed CEO John Levisay said The Pro’s Closet realized the opportunity it had to accelerate the business In order to facilitate that growth. The company brought on a $40 million Series B funding round in May, led by The Chernin Group with participation from existing investors Foundry Group, Edison Partners and Ridgeline.
What’s been your biggest 2021 accomplishment? The two things in 2021 we're most proud of are the $40M round of funding we announced in May and our recent merger with The Radavist. The funding is a sign of investors' belief in the future potential of our business. Our investment in a media outlet shows our commitment to providing consumers with an immersive retail experience.
Are you in the stage of the life cycle you expected to be at this time? Tell us about it. We have seen tremendous growth since we first launched our retail platform in 2019. We're very proud of our growing prominence in the cycling retail community, our growing team and our increasing assortment
How would you define your company’s “new normal”? We are growing fast and believe that our growth will be our normal for some time. We couldn't be more excited!
What’s your next big move? We are looking to expand our team so that we can continue to offer consumers a growing selection of Certified Pre-owned bikes and new cycling apparel and accessories.
What’s your No. 1 piece of advice for aspiring entrepreneurs? We are built on the vision of helping cyclists turn disused bikes and cycling equipment into cash or newer equipment. We've remained committed to that vision and suggest that aspiring entrepreneurs stay focused on their visions.
The Pro’s Closet
Category: Outdoor
Location: Louisville
Top exec: John Levisay, CEO
