SquadLocker Attracts $20 Million Investment To Support Continued Growth
ABS Capital Partners drawn to Company's unmatched customer experience, lucrative channel partners, and impressive management team.
Feb 25, 2020, 06:00 ET
WARWICK, R.I., Feb. 25, 2020 /PRNewswire/ -- SquadLocker, a leading provider of online tools and services for teams and organizations to manage custom apparel and equipment purchasing, today announced the closing of a $20 million Series C funding round led by late-stage growth company investor ABS Capital Partners. Existing investors Causeway Media Partners, an investment fund focused on sports technology and Lead Investor Jim Lombardi also participated in the financing round. The proceeds will be used to further develop growth initiatives, including the expansion of channel partner relationships. As a result of the transaction, ABS Capital general partner Mike Avon will join the board of directors at SquadLocker.
"SquadLocker is poised to continue playing a pivotal role in the custom sports gear, equipment, and apparel industry," said Founder and CEO Gary Goldberg, a third-generation textile engineer. "We look forward to working with ABS Capital as we continue our rapid growth by delivering our services to more organizations, schools and teams."
Incorporated in 2015, SquadLocker helps coaches, organizers, and administrators design, and distribute uniforms, player gear and spiritwear to youth organizations and schools throughout North America. Unique in the sector, SquadLocker offers single unit, custom garments from top athletic brands, through an online platform that tightly integrates the e-commerce experience with its proprietary, wholly-owned manufacturing facility.
SquadLocker provides distinctive services in an intensely fragmented industry, with competitors using antiquated methods to outfit teams. As a result, SquadLocker offers the fastest delivery times, from stores that never close with the ability to serve players individually at any time.
"We are excited by SquadLocker's distinct approach to the market, as well as their partnership with leading league management software SportsEngine, a division of NBC Sports," Avon said. "Every team on the SportsEngine platform is offered seamless integration with SquadLocker's technology and services, expanding the addressable market and the Company's reach."
About SquadLocker
SquadLocker and its innovative suite of disruptive technologies are changing the way leagues and teams design and purchase customized team gear and apparel. Offering the market's leading brands, SquadLocker manages the entire process from instant online store creation to free graphic artwork assistance as well as decoration and production and fulfillment, all from its wholly-owned facility. As a result, SquadLocker makes it easier for league organizers to manage youth programs and for coaches to spend more time mentoring and inspiring young athletes. For more information, visit: www.squadlocker.com.
About ABS Capital Partners
For 30 years, ABS Capital has been investing in later-stage growth companies, helping CEOs capitalize on new opportunities and navigate unforeseen obstacles – while never losing sight of the ultimate goal of achieving lasting excellence. Our partners have decades of experience as C-level executives, investment bankers, and investors in the industries in which we invest: business and tech-enabled services and health care. This combination of experience and expertise means we have a laser-focus on the specific needs growth companies face as they look to get to the next level. By helping to transform over 125 companies through their most crucial stage of development, ABS continues to help unleash the potential for lasting growth. ABS Capital Partners. Here, we grow. For more information, visit www.abscapital.com.
About Causeway Media Partners
Founded in 2013, Causeway Media Partners is an investment fund focused on sports media, sports technology, and related companies. Targeting growth equity and venture capital stage organizations, Causeway is committed to forging long-term partnerships and supporting management teams in their growth years. Causeway leverages its teams' decades of success to help structure, execute, and monetize its investments. The Causeway team offers an uncommonly diverse perspective on business as well as access to a unique network of connections. For more information, visit www.causewaymp.com.
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