Toca Football Secures $40M Funding for Expansion

Toca Football Secures $40 Million in Series E Funding

Toca Football, a company established nine years ago and headquartered in Costa Mesa, California, has successfully raised $40 million in Series E funding. The organization operates 14 soccer training centers throughout the United States.

This new capital infusion will be utilized to approximately double the current number of operational facilities within the U.S. Furthermore, Toca Football intends to establish a location in the United Kingdom.

Expansion Plans and Facility Concept

CEO Yoshi Maruyama characterizes the planned U.K. site as a uniquely designed destination. It will integrate game-based experiences with dining and entertainment, all centered around soccer training.

Maruyama’s background is deeply rooted in creating popular destinations. Prior to joining Toca Football – founded by former American soccer player Eddie Lewis, where “toca” signifies the initial contact with the ball – he served as the global head of location-based entertainment for Dreamworks for six years.

Before Dreamworks, he dedicated 14 years as a Senior Vice President with Universal Parks & Resorts.

Transformation of the Business Model

Maruyama was recruited to Toca Football in 2019 with the objective of shifting the company’s focus. The initial business model centered on manufacturing and selling a ball-tossing machine, invented by Lewis, to Major League Soccer teams.

He oversaw the transition to the current services-based approach.

Growing Soccer Popularity in the U.S.

The new business model appears strategically sound, capitalizing on the increasing popularity of soccer within the United States. Statista reports that U.S. high school soccer programs reached a record participation level during the 2018/19 season.

Over 850,000 students participated in the sport nationwide.

Diverse Customer Base

Toca Football’s appeal extends beyond just children, although they and their parents represent a core demographic. According to Maruyama, the centers serve a variety of groups throughout the day.

• Mornings are dedicated to introductory soccer programs for children aged six and under.
• Afternoons primarily feature individualized soccer training sessions utilizing Toca’s touch trainer technology.
• Evenings host leagues for both children and adults.

Large-Scale Facilities

Many Toca Football centers are substantial in size. The recently opened facility in Naperville, Illinois, near Chicago, spans 95,000 square feet.

It includes four full-size indoor soccer fields and dedicated spaces for one-on-one training. Maruyama notes the company has benefited from favorable conditions in the commercial real estate market.

Investor Confidence

This potential for growth has attracted significant investor interest.

The latest funding round includes contributions from existing investors WestRiver Group, RNS TOCA Partners, and D2 Futbol Investors.

New investors also participated, notably Jared Smith, an angel investor and the co-founder and former COO of Qualtrics.

Future Expansion and Global Ambitions

To date, Toca Football has raised a total of $105 million in funding. The company intends to expand its reach into Asia as quickly as feasible.

China, with a national mandate to become “a first-class football superpower” by 2050, is a key target market.

Toca Football is poised for continued growth and innovation in the soccer training landscape.