Business news : Club Ride Raises $1M in Capital

Club Ride Apparel signed an agreement with Royal Street Investment & Innovation Center (RSIIC) to fund the company with $1million in additional capital to support the company’s continued expansion and growth.

 

“Club Ride is emerging as a premium brand in what we view as the next frontier of the broader marketplace of cycling,” stated Jeff Stowell, RSIIC President.  Stowell continued, “We feel like Club Ride is an outstanding fit for our portfolio and that they strongly represent the growth opportunity, as well as the values and ethics we expect when we make investments of this size.  We are really excited to be a part of the quickly growing Club Ride family.”

 

Club Ride CEO Scott Montgomery said RSIIC understands the outdoor enthusiast. 

 

"They believe the cycling industry needs to expand cycling apparel beyond the status quo," said Montgomery.  "I am confident that with an even stronger balance sheet, our ever-improving products, and our knowledgeable staff, we will continue to build a brand that expands the cycling apparel segment as more consumers find Club Ride products enhance their riding experience.”

The RSIIC investment will help to ensure Club Ride's expand its product offerings, marketing, product development and sales initiatives.

About Club Ride Apparel

 

Founded in 2008 by Mike Herlilnger, Club Ride is pioneering the emerging market for casual apparel that are highly functional on and off the bike. Based in Ketchum, ID, the company strives to provide technical clothing in a stylish and comfortable design to look great both on and off the bike. 

 

RSIIC invests in, develops and supports emerging and existing small businesses as they seek to grow and expand.

By press release