Investment Will Enable Stix To Scale up Inventory and Distribution to Meet Golfers’ Overwhelming Demand for Modern, High-Quality Golf Equipment
CHICAGO, May 11, 2022--(BUSINESS WIRE)--Stix Golf, on a mission to democratize golf by bringing high quality, modern clubs to the masses at an affordable price, today announced the close of a $10 million Series A financing round with notable contributions from existing and new investors including Verance Capital, 2.0 Ventures, and Spacestation Investments.
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Stix Golf 14 piece club set (Photo: Business Wire)
"We believe that golf is fundamentally a simple game that has become far too complex, intimidating, and exclusive over the years," said Gabe Coyne, CEO of Stix Golf. "We are simplifying the club-buying experience for consumers from design and aesthetic to the description of clubs and the options we offer."
Demand for golf has exploded with the wider industry seeing unprecedented growth over the last two years, positioning Stix to continue its rapid growth and consumer adoption. The 3.2 million Americans who played golf on a course for the first time in 2021 reflected an all-time high with notable growth in female golfers (8 percent increase) and diverse golfers (6 percent increase)*.
"The sport of golf is growing at an accelerated pace, and Stix is best positioned to provide new and existing players with an attractive alternative to the legacy manufacturers," said Lyle Ayes, founder and CEO of Verance Capital. "We look forward to supporting Gabe and his team as they continue to disrupt the golf landscape and scale Stix into a global business."
Stix Golf offers three flexes and five heights to accommodate a diverse range of golfers, while still providing a personalized fit without a formal fitting, which can be expensive and confusing.
"Stix offers elite-level performance at a fraction of the cost of expensive equipment brands with a brand vibe that is fresh and inclusive," said Benson Metcalf, Managing Partner & CEO of 2.0 Ventures. "This brand fills a real consumer need with high future growth potential."
In addition to this fundraising round, Stix CEO Gabe Coyne has bolstered the company’s leadership and Advisor team which includes:
Kyle Buzzard, Head Of Product (Stix co-founder and managing director at Prota Ventures; co-founder of Bird Buddy)
Collin Duff, Head of Operations (Stix co-founder and co-founder of Viator Coffee Co)
Aaron Ormond, CMO (formerly of Molson Coors, Harley-Davidson and Porsche)
Sarah Grigg, VP of Finance (formerly of Kuiu)
Denise Finnestead, VP of Sales (formerly of SnapRaise)
Nick Fairbairn, Advisor (former VP of marketing at Dollar Shave Club)
Golf industry and consumer response has been astoundingly positive, with The Professional Golf Association (PGA) featuring Stix as one of the top three products at the PGA show in January. In addition to Stix’s direct-to-consumer business, the company has expanded its brick and mortar presence into leading retailers like PGA TOUR Superstore, Target and Scheels.
*According to National Golf Foundation
ABOUT Stix Golf
Six Golf offers modern, high-performance clubs at a fair price. To simplify the shopping experience Stix offers a package set, pairing a full set of clubs with a weather resistant stand bag and headcovers. This reduces the decision paralysis and friction that so commonly exists in the customer journey in buying golf clubs and getting into the sport. Our minimalist design, which recently won a Red Dot award, strips away superfluous features and ornamentation, allowing the simple form to be the hero. The clubs feature an all black finish that mixes monochrome textures with a red accent that denotes a functional element or touchpoint. Stix uses the same quality materials and processes as mainstream, expensive brands, but for half the price. In addition, Stix can now be found at leading retailers like PGA TOUR Superstore, Target and Scheels. For more information, visit https://stix.golf and follow Stix Golf on Instagram and Twitter.
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Allison + Partners