ICA Leads $3.5M Investment Round In Goal Five

PRESS RELEASE

March 31, 2021

Oakland, CA - Women-led sports apparel brand Goal Five raises initial $1.5M on their $3.5M series seed round, a nod to their early success. 

The world of women’s sports is often faced with inequity - from pay to access to representation. Sports apparel is a clear example of the inequality that exists for female athletes as sports retailers have embraced a “Shrink it and pink it” strategy for decades, designing apparel for men’s bodies and simply sizing down and coloring it pink for women.  

Meet Goal Five: the sports apparel brand for her, a company that’s putting women at the forefront of the sports apparel industry. Named after the United Nations’ Sustainable Development Goal #5, “achieve gender equality and empower all women and girls,” the company’s authentic mission to spread the power of sport to women and girls globally is manifested throughout every aspect of their business. Goal Five has become synonymous with high quality performance apparel due to its unparalleled design and fit for women. 

Goal Five posted a record 500% increase in YOY sales in 2020, successfully navigating the manufacturing and shipping hurdles that many businesses faced due to the pandemic. Led by women, 92% of Goal Five’s staff, 63% of its advisors and over 50% of its investors are women. Goal Five’s “for her, by her” model is yielding results. Lead investor ICA agrees and is intentionally focused on supporting women entrepreneurs through its Growth Fund. 

Why all the success? Goal Five has addressed a pain point for all female athletes, shorts. Traditionally a difficult style for brands to get right, Goal Five has anchored its business around designing the perfect short. According to its customer’s consistent and passionate 5-star reviews, Goal Five is getting it right.  Their best-selling Excel Training Short has met the needs of all athletes, and the company is leaning into the demand. It’s Fast & Free Training Short and Indie Training Short have also been met with acclaim and the company promises to come out with new styles and colors every season. 

Walking its talk as a mission-driven company, Goal Five has partnered from day one with local and global NGOs to support their efforts to create equitable opportunities for girls in sport, especially girls living in low income communities. Goal Five donates 5% of its profit and product to its domestic and global mission partners. In the words of CEO, Ann Kletz, “When girls become involved in sport, they grow their confidence and become strong leaders on and off the field.”

Lucky for female athletes everywhere, Goal Five is just getting started. Gone are the days of the female athlete being an afterthought in the sports apparel industry.  Goal Five has arrived and is pushing forward for equal gear, equal opportunity, equal representation, and #EqualPlay.

Goal Five is the sports apparel brand for her. To learn more about the company, visit goalfive.com. 

ICA makes investments that support its mission to accelerate great businesses to close the racial and gender wealth gaps. To learn more about ICA, visit ica.fund.