The funds would be used to further its research and development into new and sustainable materials as well as continuing international expansion, Zwillinger said.
"We see an opportunity to be leaders in sustainable manufacturing in an industry that has not paid enough attention to its impact on the environment; this fresh capital will allow us to make further strides in material innovation and our brick-and-mortar retail presence," he said.
Brown said the company felt fortunate to have the opportunity to challenge industry norms.
The Series B investment was led by Tiger Global Management LLC, with further investment from existing investors such as Lerer Hippeau and Maveron - a fund developed by Howard Schultz, the founder and chief executive of Starbucks.
Tiger Global partner Lee Fixel said Allbirds had managed to create a unique product while also growing a large direct-to-consumer business.
"We have big plans for 2018 and are looking forward to investing these funds to extend the early traction we have created with the Wool Runners and Loungers," Zwillinger said.
The shoes, which cost around US$95 on the Allbirds website, are touted as being an eco-friendly and comfortable wool shoe, and have already been selling well in the US and New Zealand
