Xero Shoes raises private equity funding

BROOMFIELD — Feel the World Inc., which does business as Xero Shoes, recently received a strategic investment from private equity group TZP Group LLC.

According to U.S. Securities and Exchange Commission filings, Xero, which makes shoes and sandals made out of flexible materials for running and hiking, sold $12.5 million in equity on Dec. 10.

Xero was founded in 2009 by Lena Phoenix and Steven Sashen. Recently the company has expanded its product offerings and has evolved from a mainly direct-to-consumer firm to one that also has a robust retail sales channel.

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As part of the TZP Group investment, senior advisor and Xero investor Marc Schneider will join the Xero board of directors, according to a TZP news release.

“After years of bootstrapping Xero Shoes’ growth, Lena and I are thrilled to have a partner that shares our vision and has the resources to help us become a global brand that helps more people experience the comfort and benefits of our footwear,” Sashen said in the release.  

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