Fishing Enthusiast Platform Company Catch Co. Raises $38 Million

By Annie Baker ● May 2, 2021
  • Catch Co., a fishing enthusiast platform company, announced that it has raised a $38 million Series B funding round. These are the details.

Catch Co., a fishing enthusiast platform company, announced that it has raised a $38 million Series B funding round led by True Ventures with participation from TechNexus. And to date, Catch Co. has raised $56 million in total funding to advance its mission of creating amazing products, content, and shopping experiences for the modern angler.

Launched in 2012, Catch Co. started off as a monthly fishing tackle subscription offering called Mystery Tackle Box. And it has since evolved to also offer its own e-commerce platform called Karl’s Bait & Tackle and a range of compelling content like the original series “Unchartered.” Plus Catch Co. recently built upon its digital-first heritage by expanding distribution of its own products into third-party retailers nationwide, including Dick’s Sporting Goods and Walmart.

As demand had surged in 2020, Catch Co. experienced year-over-year revenue growth of close to 100%. And that momentum has further accelerated into 2021 with the company expecting to ship more than 3 million Mystery Tackle Boxes this year. In addition to ramping up growth across its own ecommerce offerings and its partnerships with third-party retailers, Catch Co. is remaining focused on delighting customers with a unique mix of engaging content, a vibrant social community of over 2 million followers and industry-disrupting offerings like the world’s first Tackle Insurance program.

The $38 million dollar round – which includes both primary and secondary capital – will position Catch Co. to grow its team, expand into new product categories, build out an already robust library of video content, and test new shopping experiences that meet the evolving needs of today’s consumers.

KEY QUOTES:

“Catch Co. has perfectly positioned itself as a must-have for passionate anglers across the U.S. 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.”

— Jon Callaghan, co-founder of True Ventures

“I could not be more excited to partner with True Ventures in helping us realize our purpose of rescuing people from the indoors. Their passion for the outdoors and ability to help amazing companies scale were both clear from our very first conversation.”

— Ross Gordon, Catch Co.’s Founder and CEO