Allbirds provides an online marketplace intended to offer footwear made of natural materials. The company's footwear is made from merino wool and fibers of eucalyptus trees which have properties that minimize odor, regulate temperature and wick moisture. Allbirds aim to provide customers with comfortable and sustainable shoes using these materials.
Allbirds wants to make footwear that is different from other shoemakers, sustainable and made from premium materials. They are working to design a shoe they feel is meant for everyday life.
Their footwear includes their runners, loungers, skippers, toppers and runner-ups. All of these shoes include their Mizzle variant which is a waterproof, and their Tree Loungers variant which offers improved breath-ability highlighted by larger holes in the fabric. They also offer socks, face masks, lace kits and insoles.
Allbirds announced the close of their seed funding round in March, 2016. They raised a total of $2.7 million. Lerer Hippeau led the round which included participation from Slow Ventures, Red Sea Ventures, Peterson Ventures, Mark Vadon, Great Oaks Venture Capital, Expansion Venture Capital, Brand Foundry Ventures, Brainchild Holdings and Antipodean Adventures.
On September 7, 2016 Allbirds announced the close of their Series A funding round with a total raised amount of $7.3 million. Maveron led the round which included participation from Slow Ventures, Rosecliff Ventures, Red Sea Ventures, Peterson Ventures, Lerer Hippeau, and Great Oaks Venture Capital
Allbirds announced the close of their Series B financing round on September 5, 2017 with a total raised amount of $17.5 million. Tiger Global Management led the round which included participation from Maveron, Mark Vadon, Lerer Hippeau, Elephant and Brendan Wallace.
Announced on October 11, 2018, Allbirds closed their Series C funding round with $50 million raised and at a post-financing valuation of $1.4 billion. T. Rowe Price led the round which included participation from Tiger Global Management, Mark Vadon and Fidelity Management and Research Company.
Allbirds, known for its wool sneakers, is getting into the apparel business.
Allbirds expanding beyond shoes - starting with socks. The company remains focused on using sustainable materials, including plants and recycled plastic bottles.
With $50M in fresh funding, Allbirds will open new stores in the US, UK and Asia.
The Wall Street Journal is reporting the round values Allbirds at $1.4 billion.
Allbirds raises $7.25 million, unveils new shoe colors
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