SquadLocker Lands $20M Investment - RI-Based Online Athletic Team Apparel Co. Has Now Raised $40M

SquadLocker Lands $20M Investment - RI-Based Online Athletic Team Apparel Co. Has Now Raised $40M

SquadLocker, one of Rhode Island’s top startups, announced Tuesday that the company has raised $20 million in a Series C round of funding.

The Warwick-based SquadLocker is a leading provider of “online tools and services for teams and organizations to manage custom apparel and equipment purchasing.” The company has now raised over $40 million since its launch in 2015.

Today, the company employs 130 and with the infusion of capital, it will allow SquadLocker to grow to 175 employees by the end of the year.

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This funding round is led by Baltimore-based private equity firm ABS Capital Partners, existing investors Causeway Media Partners, an investment fund focused on sports technology, as well as lead investor Jim Lombardi also participated in the financing round, according to SquadLocker.

Causeway's lead partners include Wyc Grousbeck, the CEO of the Boston Celtics.

The new capital “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” said the company in the announcement.

“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 and RI-native. “We look forward to working with ABS Capital as we continue our rapid growth by delivering our services to more organizations, schools, and teams.”

Approach to Custom Apparel 

SquadLocker helps coaches, organizers, and administrators design, and distribute uniforms, player gear, and spirit wear 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.”

SportsEngine "is the leading provider of Sport Relationship Management (SRM) software, empowering athletes, parents, coaches, and sports organization administrators with tools and services to manage their organizations and sports lives," according to the company.