Catch Co. secures $38m in latest round of funding
Catch Co., the e-commerce fishing brand, has closed a £38 million funding round, bringing the total finance raised by the Chicago-based company to $56 million since launch.
The latest round of funding was led by Silicon Valley venture capital firm True Ventures, with participation from prior investor TechNexus. The investment will advance Catch Co.’s plans for expanding into new product categories, growing its team, improving shopping experiences and developing content creation.
Catch Co. started in 2012 as a monthly subscription offering called Mystery Tackle Box and has evolved into an e-commerce platform, Karl’s Bait and Tackle, as well as establishing its own brands. More recently it has expanded its digital heritage into third party retailers, including Dick’s Sporting Goods and Walmart.
“Catch Co. has perfectly positioned itself as a must-have for passionate anglers across the US, growing the brand and expanding the sportfishing industry in new and creative ways,” said Jon Callaghan, co-founder of True Ventures.
True Ventures was helping his company’s purpose of ‘rescuing’ people from the indoors, said Catch Co. founder and CEO Ross Gordon (pictured). “Their passion for the outdoors and ability to help with scale were both clear from our very first conversation,” he added.
Catch Co. reported close to 100% year-over-year revenue growth in 2020 and has accelerated that momentum into this year. It expects to ship more than three million Mystery Tackle Boxes in 2021. As recently reported on this site, it has also launched the industry’s first tackle insurance programme.