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Behind the Term Sheet: Ghost’s $40M Series C
- Ghost, a platform for selling excess inventory, has raised $40m in Series C funding round, with L Catterton and LVMH leading the investment. The funding comes from top-tier commerce and marketplace VCs Union Square Ventures, Eniac and Equal Ventures among others. The company has evolved to a trusted partner for brands to sell wholesale goods to each other, moving beyond selling off-price items. The company intends to use the funding to help brands list and sell their excess inventory and other mainline products using machine learning and AI.
- Ghost has raised new funding every nine to 12 months and is scaling and improving its product. The company boasts of a large TAM, high NPS, great unit economics and a clear flywheel strategy. The company's new areas of business development include its growth in distributing products beyond off-price and advancements in machine learning and AI. Working with A-team talent such as a head of product and CFO has unlocked leverage for both founders and the company overall.
- L Catterton is an attractive partner to help Ghost scale due to the firm's portfolio of brands and retail relationships worldwide. Ghost has proven valuable to some of L Catterton's brands whom Ghost already partners. The firm understands Ghost's business and offers a perspective into the growth required for a company at the growth-stage and how to achieve escape velocity.
- Ghost co-founders Josh Kaplan and Dee Murthy say they want to be the destination for products worldwide and solve problems plaguing the retail industry. Ghost believes every brand in the world is under-distributed and aims to connect buyers and sellers to ensure every product finds a home.
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