This athletic apparel line is headed down the fast track to success!
According to PR Newswire, Courtsmith — a fast-growing fashion forward sportswear brand — has officially closed a $300,000 equity investment from ICA’s Growth Fund.
What makes Courtsmith an emerging leader in the athletic apparel industry is the fact that it is a high-tech sportswear brand and a lifestyle brand too. The company aims to connect both form and function by designing athletic wear that catches the eye of both athletes and casual consumers.
Founded by Courtney “Court” Smith, the company first made headlines when it became the official sportswear line for team uniforms and basketball apparel for local youth teams.
According to the press release, “ICA’s $300K equity investment is structured as a convertible note and leads Courtsmith’s $575,000 round.” The funds will help expand its marketing efforts, the manufacturing of its clothing and more. Along with the new ICA investment, the brand is set to launch a new women’s collection this fall along with a first-of-its-kind footwear line.
“ICA has been there all along the way,” said Smith in an official press release. “Entrepreneurs have to have the wide perspective on the business and know how to do everything. Through the mentorship and strategic advising we received in the Accelerator to now receiving this investment, ICA has been an invaluable partner in our trajectory.”
Not only does Courtsmith produce high-quality apparel, but the brand is also partnering with up-and-coming athletes through a shared equity model which allows athletes to build up their own personal brands while expanding the company’s customer base at the same time.
They’ve recently focused on building its direct-to-consumer channels by rehiring some of the employees that the pandemic forced them to cut out in 2020. They have also hired six employees who will be responsible for tripling the Courtsmith workforce in the next four years.
“Court’s vision, commitment to his business, and mission alignment are a great fit for the Growth Fund portfolio,” said Chief Investment Officer at ICA, John Gough. “We are thrilled to lead this round and excited to see what’s coming for the brand under Court’s leadership.”
Prior to joining ICA’s investment portfolio, Courtsmith was a participant in the Accelerator at ICA program.
Now, the apparel company joins Don Bugito, Goal Five, Progeny Coffee, Renewal Mill, and Something Better Foods as the sixth Bay Area company to receive an investment during 2021 alone.
To date, ICA has deployed $2 million and has doubled the size of its investment portfolio.