SidelineSwap, the online marketplace for sports gear and equipment, announced a $5 million Series A financing round led by Global Founders Capital, with participation from NBA legend David Robinson’s Admiral Capital, Peak6 Sports, RiverPark Ventures, FJ Labs and The Player’s Impact, a syndicate of professional athletes and Olympians. This round brings the company’s total funding to $8.9 million, including $7.1 million raised in under a year.
“Our goal has always been to build the best shopping experience for the sporting goods customer,” said Brendan Candon, co-founder and CEO of SidelineSwap. “To us, that means creating an experience that combines commerce, community and content. With this round of financing, we’ll focus on building the largest selection of used and new inventory at the best prices, and continue our efforts to help make high-cost sports more accessible to athletes everywhere.”
“We are excited to expand our portfolio of sports technology investments and tap into our sports network to help accelerate SidelineSwap’s growth,” said David Robinson, Admiral Capital co-founder. “This rapidly growing platform has social benefits consistent with the Admiral Capital Group mission and we look forward to helping make sports more affordable and accessible.”
“SidelineSwap is delivering a superior consumer experience to athletes and represents a powerful new channel for sellers of all kinds,” said Reid Snyder, managing director at Peak6 Sports, a sports and technology venture capital firm that has participated in all three rounds of SidelineSwap funding. “By bringing a scalable and much needed solution to the sporting goods and apparel vertical, they’ve unlocked a significant growth opportunity.”
This Series A funding is SidelineSwap’s third round of financing. The company previously raised a $2.1 million seed extension in fall 2017, and a $1.8 million seed round in spring 2016.