Stio Closes $5.9M Funding Round to Support Growth Trajectory
- Written by Editor
Jackson, Wyoming (August 5, 2014) – Stio, the Jackson, Wyoming-based mountain apparel brand, is pleased to announce the closing of a $5.9 million round of funding to support its growth trajectory and future plans for expansion. Sandbridge Capital, LLC led the funding round, while original Stio® investor KarpReilly Investments, LLC supported the round by converting an existing debt facility to equity.
David Fife, Managing Partner of Sandbridge Capital, LLC commented, “Steve and his team have built Stio into a world-class brand in short order, and with a limited capital base. We are excited to come in at this stage to both accelerate and support Stio’s growth.” Fife continued, “it is increasingly rare to find a young company with such outstanding product, experienced leadership, strong operational foundation, and such a focused business model – we are excited to work with the Stio team and add value where we can.”
With the success of the Stio Mountain Studio™ retail store in Jackson, the brand recently engaged real estate broker Jones, Lang and LaSalle (JLL) in a national search for new retail locations. Stio is also ramping its catalog and other promotional efforts and has recently added Jackson, Wyoming-based creative agency TMBR, as well as digital advertising specialists FastG8 to its team.
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