Foxtrot Announces $6M Series A Led by Fifth Wall

Next generation corner store to grow its online and offline experience in Chicago and nationally across residential, hotels and commercial

CHICAGO, Illinois – March 15, 2018 – Foxtrot, the next generation corner store, announced today the closing of a $6 million Series A round of financing led by Fifth Wall, the largest venture capital firm focused on the Built World. With the new funds, Foxtrot will take its successful retail model and grow the team to support the expansion of its on-demand e-commerce delivery business, and the opening of additional retail stores in Chicago later this year and national expansion in early 2019.

The future of retail is on-demand, curated products and experiences, and Foxtrot has built a loyal customer base eager for service and personalization from both its mobile app and four physical locations in Chicago. Foxtrot combines e-commerce with an in-store experience that is curated with the city’s best products – craft beer, wine, spirits, food, gifts and everyday essentials.

The partnership with Fifth Wall introduces the Foxtrot team to the largest real estate companies across commercial, retail, and residential who have come to Fifth Wall to find the next generation of companies changing the industry. The additional capital will allow Foxtrot to focus its growth on partnering with these, the largest owners and operators of real estate, to provide a curated amenity to neighborhoods and buildings – from residential to hotels to commercial landlords.

“We believe Foxtrot is paradigm of what the next generation of retail looks like. The retail shopping experience is becoming increasingly digital, but brick-and mortar retail is far from dead and is instead becoming critically important to omnichannel brands like Foxtrot - Mike and the team have combined a beautiful, elevated in-store experience with a seamless digital purchasing UX and the convenience of on-demand delivery," said Brendan Wallace, Co-Founder and Managing Partner at Fifth Wall. “Fifth Wall is excited to partner with Foxtrot to bring the real estate expertise of our team and our partners to the Foxtrot team to scale the business in Chicago and beyond, expanding the reach of the unique experience they have created to neighborhoods and city centers across the country.” Other participants in the round with Fifth Wall include: Lerer Hippeau, Revolution’s Rise of the Rest Seed Fund, Collaborative VC, BoxGroup, Maveron, M3 Ventures, and The University of Chicago.

"Foxtrot has read the pulse of the retail industry by blending e-commerce, on-demand delivery, and brick-and-mortar experiences,” added Ben Lerer, Managing Partner at Lerer Hippeau. “The company is addressing retail's most pressing pain points while building a direct-to-consumer business that's deeply resonating with its first market in Chicago."

“Over the past few years we’ve been able to take the curated, on-demand Foxtrot experience and truly tailor it to our neighborhoods and customers here in Chicago, and are eager to do the same for communities across the country,” said Foxtrot co-founder and CEO Michael LaVitola. “We knew we needed to find the right partners to take this next step, and we’ve found that with Fifth Wall and this exceptional group – their expertise and relationships will go a long way in helping grow our team, offerings and locations in the coming year and beyond.”

Partnerships with commercial and residential landlords, put Foxtrot stores in anchor retail locations. The Foxtrot team then prioritizes products and integrations that are local – a significant portion of Foxtrot’s inventory comes from local purveyors. Examples of these partnerships include:

• Bush Temple of Music: In a historic building that has recently been brought back to life in River North, created a space that combines a coffee shop and market, bringing this amenity to a refurbished residential building and the neighborhood.
• Jeni’s Ice Cream: In partnership with local ice cream favorite, Jeni’s, built a unique retail space at the Lincoln Park location that is a hybrid of a corner store and an ice cream shop.
• FEW Spirits & CH Distillery: Collaborations with local Chicago distillers provide unique and highly localized gifts, delivered on-demand through the Corporate Gifting Program.

Foxtrot’s fourth and newest retail store opened March 9th at 1722 W. Division St. in Chicago’s Wicker Park neighborhood. Designed by Karen Herold of Studio K, the 2,200-square-foot space features a full-service coffee bar and lounge with local beers on tap and wines by the glass.

For more information on Foxtrot please visit foxtrotco.com or download in the App Store.