Funding

Cotopaxi Raises $6.5M in latest round

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What does Cotopaxi do?

Cotopaxi, is an e-commerce startup which emphasizes on making this world a better place. It is the next generation, direct to consumer, outdoor gear and apparel company which has socially focused mission of eradicating extreme poverty. Its every piece of gear is for a human cause in the poorest countries of the world.

Cotopaxi’s every pack provides between 1-3 weeks of education to a child, a water bottle sold provides 6 months of clean water and all apparel is tied to health related projects.

Cotopaxi aims at helping the poorest of the poor countries in the World and provides transparency by showing the impact of donations.

How much Cotopaxi was funded?

The outdoor gear and apparel company, Cotopaxi raised $6.5 M in Series A funding on March 24th, 2015 by NEA, Greycroft Partners, Lerer Hippeau Ventures, Forerunner Ventures, Jeff Kearl, Lerer Hippeau Ventures and Josh James.

Previous funding

  • Undisclosed amount in  Seed round on Jan 28th, 2014, with Peterson Partners funding $100k.
  • $3M in Seed funding on Jul 22nd , 2014 from SherpaVentures, Brand Foundry Ventures, Tekton Ventures, New Enterprise Associates, Lerer Hippeau Ventures and Forerunner Ventures.

What is next for Cotopaxi?

Cotopaxi will remain focused on outwear, backpacks but it is also developing many new and innovative products which are outside its 2 primary categories.

The company also plans to use fund to continue its Questival events into additional cities across USA. These are 24 hours adventure races which feature exciting physical and social challenges which benefits local charities. Cotopaxi plans to have more than 20 Questival events in 2015.

More about Cotopaxi

Cotopaxi was founded in January 2014 by Davis Smith, CJ Whittaker and Stephan Jacob. Though many startups say they are idealists in pursuits of huge missions, Davis Smith said that Cotopaxi is hlping humanitarian causes in many concrete ways, not just due to products created in sweatshop free factories and not because it promises to donate some of its profits.

The company ties each purchase directly to a specific impact.

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