Chicago-based footwear and design startup BucketFeet has closed $3.7 million in funding. Bridge Investments and Jumpstart Ventures led the round with participation from investors that included Levy Family Partners and Listen Ventures. The capital will be used for personnel hiring, product development and to expand its artist network.
Chicago, IL, June 17, 2014 — Footwear and design startup, BucketFeet, which collaborates with more than 3,000 artists from around the world to connect people through art, has taken a step towards scaling its artist network and content driven business.
The Chicago-based brand announced today it has raised an additional $3.7 million in venture capital. Bridge Investments and Jumpstart Ventures led the second-round financing, with participation from Levy Family Partners, Listen Ventures, Revelry Brands Founder Brendan Synnott, Former CEO Allscripts Glen Tullman, and Crate & Barrel Founder Gordon Segal. According to BucketFeet, the funding will be used to build out its artist network, expand its team, and support product development. The company previously raised $2.1 million.
“BucketFeet is more than just a consumer product company, they are creating a movement by connecting people through art,” said Jeff Cantalupo, Listen Ventures founder. “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.”
Rishi Shah, managing partner of Jumpstart Ventures added, “It’s one of the best executing teams I’ve ever been around, and combined with the authenticity of its brand, we think it’s destined to create a once-in-a-generation platform that brings the work of artists to consumers in new and inventive ways.”
Founded in 2011, BucketFeet’s sales have more than tripled every year since it launched. The brand sells products domestically via its own website (www.bucketfeet.com), national retailers such as Nordstrom and C. Wonder, as well as at its own stores. Most notably, BucketFeet’s brand new pop-up store and gallery in SoHo at 108 Wooster St., is delivering sales per square foot rivaling those of Warby Parker and Bonobos, but with an average price point of only $70. BucketFeet also sells in over 20 countries, further demonstrating the power of its growing global artist network.
“We’ve grown 2,500% since the first year we launched, and this new round of capital will let us continue to accelerate our growth,” said Raaja Nemani, co-founder and chief executive officer of BucketFeet. “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.”
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BucketFeet exists to connect people through art by leveraging its artist network to create footwear, wall art, and other apparel products. Painters, graffiti artists, writers, illustrators, tattooists and many more original creators are part of this global network which includes over 3,000 artists from more than 40 countries. To learn more, visit www.bucketfeet.com.