Allbirds has raised $100 million in a Series E funding round led by Franklin Templeton, alongside T Rowe Price, Baillie Gifford, TDM Growth Partners, Rockefeller Capital Management, and additional new and returning investors. The funds will help Allbirds strategically enter new product categories while continuing to invest in sustainable material innovation.
The capital will also continue to support the brand’s fast-growing international business and aid in the ongoing expansion of its fleet of brick-and-mortar stores.Allbirds has raised $100 million in a Series E funding round led by Franklin Templeton, alongside T Rowe Price, Baillie Gifford, TDM Growth Partners, Rockefeller Capital Management, and additional new and returning investors. The funds will help Allbirds strategically enter new product categories while continuing to invest in sustainable material innovation.#
Allbirds is a New Zealand-American footwear company that uses a direct-to-consumer approach and is aimed at designing environment friendly footwear. It is a certified B Corp, Public Benefit Corporation, and carbon neutral business focused on combating climate change.
Despite the retail industry’s unprecedented challenges, the size of Allbirds’s Series E is an indication of investors’ continued enthusiasm for its stakeholder-centric business model that produces products that are better for consumers and the environment.
The Series E follows the successful launch of Tree Dashers, Allbirds’s first performance running shoe. Additionally, the international arm of the business is doing well, especially in the Asia-Pacific region with launches in Japan and South Korea and the continued growth of the Chinese market.
“Business can be a force for positive change, and this additional capital will allow us to further our mission of bringing more sustainable products to people around the world,” says Allbirds co-CEO Joey Zwillinger. “We have seen the power of collective action in response to the global pandemic and, as we continue to grow, we will push for a similar united response to another universal threat: climate change.”
“Allbirds demonstrates what’s possible when you combine a customer-focused approach to business with a true dedication to addressing environmental issues. We've been impressed with the company’s outsized growth in a competitive category, and are thrilled to invest with them in the hopes of creating a more sustainable future,” says Sara Araghi, research analyst and portfolio manager at Franklin Templeton.
Allbirds currently operates globally with 21 retail locations in the United States, Europe, Asia, and New Zealand. The company has raised more than $200 million since its launch in March 2016.
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