The platform has landed $56 million in total funding up to now to further is aim of “creating amazing products, content, and shopping experiences for the modern angler,” according to the announcement.
“Catch Co. has perfectly positioned itself as a must-have for passionate anglers across the U.S.,” True Ventures Co-Founder Jon Callaghan said in the announcement. “We’re thrilled to partner with Ross and his team as they grow the brand and expand the sportfishing industry in new and creative ways.”
The $38 million infusion encompasses primary in addition to secondary capital. It will position the firm to expand its workforce, develop an already strong collection of video content, grow into new product categories and pilot new shopping experiences that satisfy the changing needs of today’s shoppers, according to the announcement.
Catch Co. was established in 2012 as Mystery Tackle Box, a monthly fishing tackle subscription product. Since that time, Catch Co. has grown to provide its own online shopping site named Karl’s Bait & Tackle in addition to a host of content such as Unchartered, the original series.
And, in recent times, Catch Co. grew distribution of its own merchandise into third-party retailers throughout the country such as Walmart and Dick’s Sporting Goods.
As PYMNTS previously reported, the pandemic has very much reshaped the way in which American consumers harness subscription offerings. A number of consumers have been eager to find new eCommerce experiences while they are stuck in their residences, with subscriptions being among their favorite ways for discovering new products and services. The result has been a large rise in the share of consumers harnessing subscription offerings.
To that end, the number of consumers utilizing digital subscription services to buy their retail products has almost doubled in the past year.