Catch Co. Platform and Ongoing Success
The fishing startup Catch Co. and its platform provide a series of specific fishing-related products such as jigs, hooks, rods, bait, tackle, and lures. Alongside partnerships with several fishing brands, the company also has its own brand of bait and lures that serve as a major portion of the ecommerce sales. The fishing startup originally began as a month subscription service for its flagship product, the Mystery Tackle Box. However, as popularity continues to grow, Catch Co. has expanded significantly to bring on more fishing items as well as original content.
In fact, the startup now produces and distributes two different online series about fishing. “Unchartered” and “Covering Water” both cover lifestyle topics, competitive tournaments, and wildlife exploration within the fishing world. Furthermore, they have each found niche audiences.
The growth of fishing as a hobby over the last few years has proven tremendously lucrative for the startup as business exploded. In fact, the fishing company has experienced a 100% growth in business revenue year-over-year. One of the only hurdles that Catch Co. has seriously faced in recent times has been the ability to keep up with product demand. With a relatively small operation of just 65 people, the business has made distribution partnerships with major sporting goods and hobby company Dick’s along with retail giant Walmart.
Catch Co. Funding and Future Plans
In the Series B funding round for the business, the fishing company raised $38 million in capital. The funding round was led by True Ventures, with participation also coming from TechNexus. The company’s main plans for this new funding will be to expand business in every direction. The money will help Catch Co. to keep up with the demand created by its products through manufacturing and distribution. The startup will also add 20 new positions to the work staff that can help process these orders and market the business.
The fishing industry has seen a considerable rise in popularity as of late. With very few activities allowed during 2020 due to the pandemic, fishing saw a renaissance of sorts as over 50 million people took to the water. From a business perspective, over $6 billion was spent on fishing gear annually, with expectations for even more growth moving forward.
When commenting on the latest funding round for Catch Co., co-founder of True Ventures Jon Callaghan said, “Catch Co. has perfectly positioned itself as a must-have for passionate anglers across the US. 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.”
About the Author
Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.