This new investment will help Stadium Goods to further expand its presence into the mainstream footwear market. The deal was led by Forerunner Ventures (Warby Parker, Dollar Shave Club, Jet.com) and includes The Chernin Group.

Stadium Goods was founded by John McPheters and Jed Stiller in October 2015 and it has been created as a retail and consignment store showcasing rare and limited edition sneakers in a minimalist space.

The company has been a promising player in a niche market, capturing the attention of investors.  In just over a year in business, the company has partnered with Alibaba Group’s Tmall Global, to sell its products directly to overseas consumers, and with eBay, developing custom content exclusively for this website.

The new partnership with Forerunner Ventures and The Chernin Group, among others, will boost the company’s strategy to scale and innovate rapidly.