Last we checked in with Outdoor Voices, the activewear juggernaut (and its droves of passionate, vocal followers and shoppers) was busy defending its signature aesthetic after another athleisure retailer may have looked to it a bit too closely for inspiration. Those tides, it seems, have settled, and both Outdoor Voices and the company's founder and CEO Tyler Haney have moved onto bigger, better and greener things — namely, funding, and lots of it.
On Tuesday, Outdoor Voices announced that it had raised a whopping $34 million in Series C funding led by GV, the venture capital investment arm of Google's parent company, Alphabet Inc. (GV has also invested in such consumer mega-operations as Uber, Jet.com and Blue Bottle Coffee, as well as a host of enterprise systems, robotics and artificial intelligence.) This brings Outdoor Voices's total funding to date to nearly $57 million, and that's only after having launched digitally in 2014.
As for what Outdoor Voices plans to do with its latest influx of cash, Haney hinted at expanding its brick-and-mortar presence nationwide, which already includes seven stores across New York, California, Texas and Colorado.
"We plan to use the new capital to scale the community we've built around Doing Things," said Haney in a statement. "This includes continuing to build shops and host events in new cities across the country, and reaching an expanded audience online."
Outdoor Voices also marks one of the most significant clothing operations in which GV has invested; could this collaboration bring Outdoor Voices closer to, in Haney's words, becoming the next Nike? Well, maybe!
"The community that Tyler and her team have built around finding joy in being active is impressive," said Laura Melahn, Partner at GV, in a statement. "We're excited to partner with Outdoor Voices as they continue to design best-in-class clothing and define a digital-first omnichannel retail strategy built for the world we live in today."
We know the millennial-beloved brand has no trouble raising money — this past August, it cleaned up with $9 million in a round led by newly minted chairman Mickey Drexler — and it sure doesn't look like that skillset will expire anytime soon. We'll be here when Outdoor Voices inevitably crosses it next milestone.