Dallas startup OrderMyGear has raised $35 million from Susquehanna Growth Equity.
The investment is OrderMyGear’s first institutional funding, and the company plans to use it to add new products and services. OrderMyGear provides an e-commerce platform to streamline merchandising, ordering, and fulfilment for sports team gear and group apparel. As a part of the deal, Sequehanna’s Ben Weinberg and Aaron Flack will join OrderMyGear’s board of directors.
“We are thrilled to work with SGE to accelerate investment in our software, provide more valuable products and services to our clients and surface important insights for our brand partners,” McKeaigg said in a release.
Sequehanna, which is a private equity and venture capital firm based in Philadelphia and Israel, said it invested because it sees OrderMyGear as “the clear leader in the market.” The startup also is driving automation in the custom-apparel industry, “which has been slow to adopt technology.” Sequehanna invests in tech companies in software, information services, Internet, and fin-tech sectors. It has a portfolio of more than 40 companies across the U.S., Canada, the European Union, and Israel.
The news comes after a strong year for the Dallas company. OrderMyGear generated more than $13 million in 2017 having facilitated nearly $200 million worth of commerce for more than 100,000 group stores and 2,000 team dealers, decorators, and athletic organizations. OrderMyGear currently employs 80 people. James Skidmore, OrderMyGear COO, said he sees the potential to double the company’s headcount over the next few years.
OrderMyGear participated in the RevTech, then called Venture Spur, accelerator program in 2013. There it accepted a $35,000 investment as part of the program, and since has raised a seed round of $560,000.