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Neighborhood Goods lands funding of $11M, expects to open a shop in NYC

Neighborhood Goods expects to open a shop at New York’s Chelsea Market in the fall. The move comes as the North Texas startup scores additional financial help as it brings a fresh take to retail. Neighborhood Goods announced an $11 million Series A funding round, bringing the total amount it’s raised to more than $25 million. It expects this amount to grow in the “coming weeks,” according to a statement on Wednesday.

The financing will significantly expand the “store and HQ team,” the company said, adding that a third store – this time for Austin in 2020 — is also in the works. Already, it has a location in Plano at Legacy West.

Neighborhood Goods is rethinking retail at a time the industry is under pressure. It’s bringing a new type of department store with a flexible, changing lineup of brands for customers – while it emphasizes new tools around technology. At the same time, the business has created a social approach where folks shop, eat and learn.

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