LONDON — MysteryVibe revealed today that it has closed its latest round of funding with $1.5 million in new investments, bringing the total outside capital raised by the company to $4 million.
U.K.-based, female-founded MysteryVibe manufactures the luxury vibrator Crescendo, billed as the world’s first body-adapting smart vibrator.
Founded by Stephanie Alys and Soumyadip Rakshit, MysteryVibe got its start in 2015 with an initial crowdfunding campaign, with larger investors taking notice.
“We’re finding investors to be increasingly bullish about sex tech. They are now far more willing to back us than even a couple of years ago,” Rakshit said. “In a few years, this is going to be a $50 billion market, and there’s been relatively little outside investment. There’s huge potential, we’re excited to see what’s next.”
Alys and Rakshit attributed the success of MysteryVibe’s latest round to the success of the Crescendo, as well as a promising new lineup of products to be announced later this year. They said the company’s current valuation is $13 million.
A new device, targeted at men, will launch later this month.
MysteryVibe has been featured in GQ, Wired, Forbes, the BBC, Vice and numerous other media outlets, with the Crescendo itself receiving “Best Of” kudos from an array of mainstream publications, including Glamour, Allure, Marie Claire and Good Housekeeping.
Check out the company’s website here.
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