Renewable sneaker pioneer Allbirds closes massive funding round

0
80

In San Francisco, green sneaker pioneer and household name Allbirds has closed a $100-million financing, which it will use to enter new product categories, amp up sustainable material innovation, support international growth, and add brick-and-mortar stores.

“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 was a pioneer in using sustainable materials such as eucalyptus, merino wool, renewable polyester, and has become a favorite of A-listers, including Jaden Smith and Leonardo DiCaprio.

The Series E round was led by Franklin Templeton, alongside T. Rowe Price, Baillie Gifford, TDM Growth Partners, Rockefeller Capital Management, and additional new and returning investors. Since its launch in March 2016, Allbirds has raised $200 million and grown to 21 retail locations globally.