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Published March 5, 2019
Published March 5, 2019
Neighborhood Goods

Neighborhood Goods has often been referred to as the department store of the future. The retailer has raised $8.8 million of additional seed funding, bringing the total raised to date to $14.5 million. The latest funding round was led by Global Founders Capital, with participation from prior investor Forerunner Ventures, along with Maveron, NextGen Venture Partners, Revolution’s Rise of the Rest Seed Fund, Ground Up Ventures, Capital Factory, and Dollar Shave Club CEO Michael Dubin.

Co-founded by Matt Alexander and Mark Masinter in 2017, Neighborhood Goods is headquartered in Dallas, Texas, and is a new type of department store, featuring an ever-changing landscape of brands, products, and stories. The first location in Plano, TX, is 14,000 square feet with an assortment of over 30 brands, a full-service restaurant and bar called Prim and Proper, and weekly scheduled events.

“Since we announced Neighborhood Goods last Spring, we’ve been fortunate, probably undeservedly so, to be subject to a significant amount of excitement about—and interest in—our concept,” Matt Alexander said in a statement. “As a reflection of that, in the Fall, ahead of our launch, our investors saw an opportunity to capitalize on that excitement and to accelerate our expansion plans for 2019 by driving additional seed funding.”

A New York City store is planned for this year but the location has not been disclosed. Neighborhood Goods is also planning to open “a number of locations” across the US over the next two years in major markets like New York and in smaller suburbs similar to Plano.

Read the full story on Retail Dive.


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