FOOTWEAR BRAND TAFT RAISES $5 MILLION IN SEED FUNDING
Direct-to-consumer men’s footwear brand Taft has successfully raised $5 million in seed funding. The investment was led by its new board member Curt Roberts of Kickstart Seed Fund, with participation from M3 Ventures, Fifth Wall Ventures, and Peterson Partners, as well as NBA players Dwyane Wade and Andre Iguodala, Skull Candy CEO Jeremy Andrus, and the EVP of Business Development at Stance Socks Clarke Miyasaki.
Founded in 2014 by husband and wife team Kory and Mallory Stevens, Taft produces heirloom-quality footwear in Spain and Portugal and sells its shoes direct-to-consumer exclusively via the company’s website. The company’s bold designs, accessible price-points, and inclusive, community-centric approach have earned a fiercely loyal fanbase of influencers, celebrities, and star athletes. Now, the bootstrapped brand has taken on investors for the first time, so it can better meet the rapidly increasing demand for its shoes, as well as continue to build its company.
“Being bootstrapped has taught us how to do a lot with very little,” said co-founder Kory Stevens. “Purposely staying lean and mean pushed us to focus just on what makes the brand special – unique designs, incredible value, and a fun, inclusive vibe. By sticking to the essentials, and scrapping all of the rest, we’ve been able to lay a great foundation – in terms of both brand and customers – to build something much bigger.”
In addition to raising capital, Taft also used the funding as an opportunity to bring on new advisors. “Dan Wenhold of Fifth Wall and Stance’s Clarke Miyasaki have joined our board of directors,” continued Stevens, “while our investors have helped guide the success of Allbirds, Bonobos, Skull Candy, Supreme and many more. We’ve also teamed up with some highly influential members of the sports community, including NBA stars Dwyane Wade and Andre Iguodala, to further capitalize on our popularity with professional athletes.”
Added Stevens, “with thousands of shoes sold, and millions of dollars made, we joke that we’re the biggest shoe company you’ve never heard of. But now, with this funding, and the incredible team of investors behind it, we’re ready become the next big name in footwear.”
