San Francisco – October 5, 2020 – Cooley advised sustainable footwear company Allbirds on its $100 million Series E financing round. Partner Peter Werner led the Cooley team advising Allbirds on the financing.
Franklin Templeton led the round, which also included participation by T. Rowe Price, Baillie Gifford, TDM Growth Partners and Rockefeller Capital Management, among others. Allbirds plans to use the new capital to enter new product categories strategically while maintaining its commitment to sustainable material innovation. The capital will also continue to support the brand's fast-growing international business and aid in the ongoing expansion of its fleet of brick-and-mortar stores.
"Business can be a force for positive change, and this additional capital will allow us to further our mission of bringing more sustainable products to people around the world," Joey Zwillinger, Allbirds' co-founder, said in a statement. "We have seen the power of collective action in response to the global pandemic and, as we continue to grow, we will push for a similar united response to another universal threat: climate change.
Allbirds is on a mission to prove that comfort, design and sustainability aren't mutually exclusive by making premium footwear from renewable materials, designed for everyday life. A certified B Corp, Delaware public benefit corporation and carbon neutral business, Allbirds operates globally with 21 retail locations in the United States, Europe, Asia and New Zealand.
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