Bombas - Innovative Socks, Social Impact, and Community Outreach

Founded: 2013
Founder: Randy Goldberg, David Heath
Headquarters: 881 Broadway Ave Fl 2, New York City, New York, 10003, USA
Phone: 800-314-0980
Number of employees: 200
Website: www.bombas.com

Overview

Bombas is a socially conscious apparel company that specializes in producing high-quality socks and clothing items. Founded in 2013 by Randy Goldberg and David Heath, the company is headquartered in New York City, New York. Bombas is known for its mission to help those in need by donating one item for every item purchased. To date, the company has donated millions of clothing items to homeless shelters and other organizations supporting people experiencing homelessness.

Company History

Bombas was born out of the founders’ desire to address the significant need for socks among the homeless population. Socks are among the most requested items in homeless shelters, yet they are often overlooked by donors. To meet this demand, Goldberg and Heath set out to create a high-quality, comfortable, and durable sock that could be provided to homeless shelters.

While developing their product, Goldberg and Heath discovered that traditional socks often lack the necessary support and comfort features for extended wear. To address this issue, the founders incorporated innovative design elements and these features quickly gained traction among consumers, leading to a highly successful crowdfunding campaign on Indiegogo in 2013. Bombas raised over $140,000 during this campaign, which helped launch the brand into the market.

Product Offering

Bombas’ product offerings include a variety of sock designs for men, women, and children. The company produces socks for various activities, such as athletic, casual, dress, and compression socks. In addition to socks, Bombas has expanded its product range to include T-shirts and underwear, all designed with the same focus on quality, comfort, and durability as their socks.

The company’s products are designed with a focus on function, style, and social impact. Each product features unique design elements that make them stand out in the market, such as cushioned footbeds for added comfort, Y-stitched heels for improved fit, and stay-up technology for enhanced durability. These features, combined with the company’s commitment to giving back, have helped establish Bombas as a recognizable and respected brand in the apparel industry.

Innovative Design

Bombas is known for its innovative product design, which focuses on providing consumers with added comfort, durability, and performance. The company’s founders, Randy Goldberg and David Heath, conducted extensive research and development to create socks that addressed common issues found in traditional socks. Some of the unique design features of Bombas products that offer benefits to consumers include:

Honeycomb Arch Support System: Bombas socks feature a specially designed honeycomb structure that provides extra support to the arch of the foot. This design distributes pressure evenly across the foot, offering added comfort during extended wear.

Seamless Toe: Traditional socks often have a seam at the toe, which can cause irritation and discomfort. Bombas socks have a seamless toe construction, eliminating this issue and providing a more comfortable fit.

Blister Tab: Bombas socks include a blister tab, which is a cushioned, reinforced area at the back of the sock just above the shoe line. This tab helps prevent blisters by reducing friction between the sock, shoe, and the wearer’s skin.

Y-Stitched Heel: The Y-stitched heel in Bombas socks creates a natural cup around the heel, providing a better fit and preventing the sock from slipping down during wear.

Cushioned Footbed: Bombas socks feature a cushioned footbed that offers added comfort and support. This cushioning helps reduce foot fatigue during extended periods of activity.

Stay-Up Technology: The company’s socks are designed with stay-up technology, which ensures they remain in place and do not slide down throughout the day.

Performance Materials: Bombas uses high-quality, moisture-wicking materials in their sock designs to keep feet dry and comfortable during various activities.

These innovative design features contribute to the overall quality, comfort, and durability of Bombas products, setting them apart from traditional socks on the market. The company’s focus on addressing common sock-related issues and improving the consumer experience has been integral to their success and has garnered them a loyal customer base.

Funding Rounds

Bombas has successfully completed several funding rounds, which have helped to support the company’s growth and expansion efforts. Some notable funding rounds include:

Seed Round (2014) – Bombas raised $1 million in a seed round led by Great Oaks Venture Capital, with participation from other investors like Innovation Global Capital.

Series A (2015) – Bombas secured $4 million in a Series A funding round, which was led by FirstMark Capital and included participation from several existing investors.

Series B (2018) – The company raised $11 million in a Series B funding round led by FirstMark Capital, with participation from existing investors, bringing the total funding raised by Bombas to over $16 million.

Partnerships

Bombas has formed several partnerships to further its mission of helping those in need. One significant partnership is with the International Rescue Committee (IRC), a global humanitarian aid organization that assists refugees and displaced persons. Through this partnership, Bombas has donated socks to refugees in need, both in the United States and internationally.

Additionally, Bombas has partnered with a wide range of nonprofit organizations that serve homeless populations. By working with these organizations, Bombas can ensure that their donations reach those who need them the most.

Social Mission and Community Involvement

Bombas indeed has a strong social mission and is actively involved in community outreach. Their commitment to helping those in need is at the core of their business model. As mentioned earlier, Bombas operates on a one-for-one donation model, which means that for every product sold, they donate an item to a person in need. This approach helps address the significant demand for socks and other essential clothing items among homeless and vulnerable populations.

Bombas has donated over 50 million clothing items to homeless shelters and other organizations supporting people experiencing homelessness. This number demonstrates the company’s dedication to making a positive impact on communities across the United States.

Bombas partners with a wide range of nonprofit organizations to distribute their donations effectively. They work with more than 3,000 giving partners to ensure that their products reach those who need them the most. These giving partners include shelters, nonprofits, and community organizations across all 50 states in the U.S.

One example of Bombas’ community involvement is their partnership with the International Rescue Committee (IRC), a global humanitarian aid organization. Through this partnership, Bombas provides socks to refugees and displaced persons in need, both in the United States and internationally.

In addition to their one-for-one donation model and partnerships, Bombas engages in other community initiatives. The company’s employees volunteer their time to support local organizations and participate in events, such as packing and distributing donations, further demonstrating the company’s commitment to making a difference in the lives of those in need.

Awards and Recognition

Bombas has received numerous awards and recognition for its products, business model, and social impact initiatives. Some of the most notable accolades include:

B Corp Certification (2019) – Bombas became a certified B Corporation in 2019, highlighting its commitment to using business as a force for good. This certification acknowledges companies that meet the highest standards of social and environmental performance, public transparency, and legal accountability.

Fast Company’s Most Innovative Companies (2019) – Bombas was named one of Fast Company’s Most Innovative Companies in the Social Good category in 2019. This recognition highlights the company’s innovative approach to addressing homelessness and its commitment to giving back.

Inc. 5000 (2018, 2019) – Bombas was included in the Inc. 5000 list of the fastest-growing private companies in the United States for two consecutive years. The company ranked No. 210 in 2018 and No. 729 in 2019, showcasing its impressive growth trajectory.

Ernst & Young Entrepreneur of the Year (2017) – Co-founders Randy Goldberg and David Heath were named finalists for the Ernst & Young Entrepreneur of the Year Award in the New York region. This prestigious award recognizes entrepreneurs who demonstrate excellence and extraordinary success in areas such as innovation, financial performance, and personal commitment to their businesses and communities.

In conclusion, Bombas is a socially conscious apparel company that has successfully combined innovative product design with a mission to help those in need. Since its inception in 2013, the company has grown significantly, raising millions of dollars in funding and expanding its product offerings beyond socks. Through its partnerships and commitment to giving back, Bombas has had a substantial impact on the lives of homeless individuals and other vulnerable populations, earning widespread recognition for its efforts.

Disclaimer: Please note that the names and positions of employees mentioned may be subject to change, as individuals may move to different roles or organizations. While we make every effort to keep our information accurate and up-to-date, we cannot guarantee that all employee details are current or complete. We encourage you to verify the identity and positions of any individual mentioned and check their Linkedin Profile before taking any action based on their role.