By  on September 11, 2019

Reimagined department store concept Neighborhood Goods on Wednesday said that it will open in early 2020 its third location, a 10,000-square-foot unit in Austin, Tex. The retailer in November 2018 opened its first store, a 14,000-square-foot space at Legacy West in Plano, Tex. Later this year, a 4,500-square-foot store will bow at Manhattan’s Chelsea Market.

The retailer also said it has completed a Series A funding round that raised $11 million and was by Global Founders Capital with participation from long-term investors including Forerunner Ventures, Serena Ventures, NextGen Venture Partners, Allen Exploration and Capital Factory, among others. Matt Alexander, cofounder of Neighborhood Goods, said he expects the fund to expand a bit in the next few weeks. With $14.5 million in seed funding previously raised, the new financing brings Neighborhood Goods’ total funding to $25.5 million.

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