Evo, the e-retailer of ski, snowboard and skateboard merchandise based in Seattle, has raised over $6 million in a bid to beef up balance sheet to support growth.
According to reports in TechFlash and Transworld, the money came from angel investors from companies such as Amazon.com, Facebook, Marchex, Microsoft and BuddyTV.
Founder Bryce Phillips told TechFlash that the new capital will strengthen Evo's balance sheet in order to provide more confidence to its vendors. Vendors include K2, Vans, Quicksilver, Billabong, Liquid Force, Oakley and Burton. The site sells equipment, apparel, footwear and accessories.
Evo operates a store in Seattle that also serves as its headquarter, but nearly 90% of its business is online. Phillips said Evo plans to eventually open select flagship stores across the country.
“We have a long ways to go, but we feel pretty good about where we are at,” Phillips told TechFlash. “We see an opportunity to build a billion dollar retail business, so being in the $20 million range, we have a long way to go.”
