Castore, a performance brand catering to global sports teams based in the UK, has secured a £145 million investment in a funding round led by Raine Partners, the growth equity arm of The Raine Group, a firm specializing in media, entertainment, and sports advisory and investment. Participating in the investment were Hanaco Ventures and Felix Capital through their respective growth funds.
This substantial investment positions Castore to collaborate with additional leading sports franchises worldwide by providing them with merchandise and crucial data to enhance their fan relationships. The funds obtained will support Castore in expanding the range of its primary product offerings and making investments in personnel and infrastructure.
Established in Liverpool in 2016 by brothers Tom and Phil Beahon, Castore’s business model integrates premium performance apparel with a vertically integrated digital commerce and supply chain platform for top sports teams and leagues.
Castore has formed partnerships with 50 franchises globally across various sports, including soccer, tennis, motorsports, rugby, and cricket. Some notable teams in their portfolio include McLaren F1, Oracle Red Bull Racing, England Cricket Board, Glasgow Rangers, Bayer Leverkusen, Feyenoord, Sevilla FC, Athletic Club (Bilbao), Saracens Rugby, and Republic of Ireland Football.
The co-CEOs of Castore, the Beahon brothers, expressed their delight in securing backing from reputable equity partners, emphasizing their confidence that these investors are the right partners to drive the next stage of growth. The investment is expected to provide financial strength for enhancing the supply chain and data analytics capabilities.
Jason Schretter, a partner at The Raine Group, highlighted Castore as an insurgent sportswear brand intersecting sports, premium brands, data analytics, and e-commerce. Raine and other co-investors bring deep expertise across these industries, recognizing the potential impact Castore can have on sports clients. The investment aims to support sports teams and leagues in better connecting, engaging, and monetizing their global fan bases through Castore’s unique blend of high-quality merchandise and data-driven technology solutions.
This marks another significant investment for Castore, following a £7.5 million funding round from private investors in 2020. Noteworthy shareholders include tennis star Andy Murray.
