# Cotopaxi

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cotopaxi

- Industry: Retail
- Headquarters: Salt Lake City, US
- Website: www.cotopaxi.com
- Total disclosed funding: $20M
- Latest round: Seed (Feb 14, 2018)
- Investors on record: 14

## About

Based in the US, Cotopaxi is a Public Benefit Corporation focused on producing outdoor and travel gear that emphasizes sustainability and social impact through its offerings.Cotopaxi, founded in 2014 by Davis Smith and Stephan Jacob, operates out of Salt Lake City, US. The company specializes in outdoor gear and apparel. In August 2023, Cotopaxi raised USD 6.13 mn in Series C funding, bringing its total amount raised to USD 6.13 mn, with a current company valuation of USD 319.646 mn. Cotopaxi has completed 9 deals to date.Cotopaxi specializes in outdoor and travel gear, emphasizing sustainability and social impact through its product offerings. The company's core products include backpacks, duffel bags, apparel, and accessories designed for outdoor activities, travel, and everyday use. Each product reflects a commitment to responsible sourcing and manufacturing, with a portion of revenue directed to the Cotopaxi Foundation, a nonprofit that supports community initiatives. The end users for Cotopaxi's products are primarily outdoor enthusiasts, travelers, and environmentally conscious consumers who prioritize both functionality and ethical production. The products are sold in multiple geographical markets, including the United States, Australia, the European Union, Japan, New Zealand, and the United Kingdom.Cotopaxi generates revenue through direct-to-consumer sales of its outdoor gear and apparel, as well as through partnerships with retailers. The company employs a straightforward pricing structure, with products offered at competitive rates reflective of their sustainability practices. Flagship products include the Allpa Travel Pack and various apparel items designed for both performance and style. Transactions typically occur via online purchases, where customers can take advantage of promotional offers and discounts, such as percentage reductions for first-time subscribers. Cotopaxi also emphasizes its mission of social responsibility in its business model, encouraging customers to engage with its philanthropic initiatives while making purchases.In August 2023, Cotopaxi raised USD 6.13 mn in Series C funding as part of a larger USD 8 mn funding round. The company plans to utilize these funds to develop new products and expand into new geographic markets. Specific new product lines are currently in design, aimed at enhancing their outdoor gear offerings. Cotopaxi aims to reach emerging markets in South America and Asia by the end of 2024, thereby broadening its customer base and increasing its global presence.

## Funding rounds

- Seed, Feb 14, 2018, $0.1M — Revolution Ventures
- Series B, Feb 1, 2017, $10M — Greycroft, Ridgeline Ventures
- Series A, Mar 24, 2015, $6.5M — New Enterprise Associates, Peterson Partners, Greycroft, Forerunner Ventures, Mercato, Lerer Hippeau Ventures, Brand Foundry Ventures
- Seed, Jul 22, 2014, $3M — New Enterprise Associates, Peterson Partners, Correlation Ventures, Forerunner Ventures, Kickstart, Lerer Hippeau Ventures, Tekton Ventures, ACME Capital, Brand Foundry Ventures, BAM Ventures

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Seed, Series A
- Peterson Partners (https://capitalatlas.ai/funds/peterson-partners) — Seed, Series A
- Correlation Ventures (https://capitalatlas.ai/funds/correlation-ventures) — Seed
- Forerunner Ventures (https://capitalatlas.ai/funds/forerunner-ventures) — Seed, Series A
- Kickstart (https://capitalatlas.ai/funds/kickstart) — Seed
- Lerer Hippeau Ventures — Seed, Series A
- Tekton Ventures (https://capitalatlas.ai/funds/tekton-ventures) — Seed
- ACME Capital (https://capitalatlas.ai/funds/acme-capital) — Seed
- Brand Foundry Ventures (https://capitalatlas.ai/funds/brand-foundry-ventures) — Seed, Series A
- BAM Ventures (https://capitalatlas.ai/funds/bam-ventures) — Seed
- Greycroft (https://capitalatlas.ai/funds/greycroft) — Series A, Series B
- Mercato (https://capitalatlas.ai/funds/mercato) — Series A
- Ridgeline Ventures (https://capitalatlas.ai/funds/ridgeline-ventures) — Series B
- Revolution Ventures (https://capitalatlas.ai/funds/revolution-ventures) — Seed