TechNexus portfolio company Catch Co. reeled in $38 million in their recent round, led by Silicon Valley based firm True Ventures with participation from TechNexus Venture Collaborative. In 2018, TechNexus also participated in their Series A. The digital fishing platform has now raised $56 million in total funding enabling Catch Co. to further their offerings to consumers.
“Fishing can be an intimidating category, even for people who grew up doing it like me,” CEO Ross Gordon told Crunchbase News. “You can walk into a tackle shop and there are lures in every shape and size. We wanted to simplify this and curate content to make it easier.”
Catch Co. was founded in 2012 originally as Mystery Tackle Box, a monthly fishing tackle subscription. Catch Co. has expanded its offerings with the recent launch of their ecommerce platform: Karl’s Bait & Tackle, and also offers products in major retailers such as Dick’s Sporting Goods and Walmart.
“We are enthusiastic about our continued partnership with Catch Co. and excited for their success on this fundraising round which will be used to expand collaboration initiatives, getting more people on the water to fish and enjoy the great outdoors,” said TechNexus Manager, Cristin Pacifico.
Catch Co. plans on using the funds to grow their team, expand product offerings, and continue building their already massive video library, among other things. The company saw almost 100% growth, even during the COVID-19 pandemic. Catch Co.’s success, especially in 2020, is another example of the shifting dynamics of outdoor recreation.
TechNexus has made hundreds of investments in promising, purpose-built startups with multiple in the fishing and outdoor recreation industries. Check out our full portfolio or subscribe to our newsletter for more news and insights.