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Monday, Jul 4, 2022

Sock Maker Raises $30M

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San Clemente-based Stance Inc. received $30 million in Series D funding led by Mercato Partners in Salt Lake City.

Other returning investors include August Capital, Kleiner Perkins Caufield Byers, Menlo Ventures, Shasta Ventures, and Sherpa Capital.

The financing will enable the socks and underwear manufacturer “to continue its rapid growth and expansion into strategic, direct-to-consumer initiatives,” according to Mercato.

“A massive market and growth opportunity lies in front of the company as they continue to aggressively attack new products, categories, and sales channels,” Greg Warnock, the investment firm’s managing director and a member of Stance’s board of directors.

Stance Chief Executive Jeff Kearl said Mercato’s support since the company’s launch brings “a wealth of strategic insight through its prior experiences with leading consumer brands and functional expertise around sales channel optimization.”

He continued, “Building a premium brand is a deliberate effort that takes time. Our team feels like we are in early innings, but this financing will enable us to more quickly activate our plans for rapid expansion to reach new customers and to better serve our existing, loyal customer base.”

Stance in November opened its first retail store in New York’s SoHo district. It ended the year with an estimated $180 million in revenue.

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