BROOKLYN, N.Y. — Sexual wellness company maude recently announced the close of $5.8 million in a Series A round of venture capital financing.
According to the company, it has successfully raised $10 million to date over four rounds of funding — making it one of the most VC-backed sexual wellness personal care companies. The raise was led by True Beauty Ventures — a beauty and wellness-focused fund that grows early-stage brands in the beauty and wellness space — and includes participation from Fable Investments (the parent company of Aesop and The Body Shop), U.K. consumer fund True and media company Endeavor.
The company, launched in April 2018 and founded by Éva Goicochea, is "a category leader with a clear mission to democratize and de-stigmatize an antiquated view of sex while reframing intimacy as self-care," said Cristina Nuñez, co-founder and general partner at True Beauty Ventures. "Éva is a visionary, fearless founder who has innovatively bridged the gap between sex, health and personal care through a thoughtful product offering that has redefined the meaning of modern intimacy for the consumer."
As a part of the raise, maude's board will now be entirely female and majority Latina with Cristina Nuñez (True Beauty Ventures) and Paola Felipak (Fable Investments) taking seats.
"Fable Investments is delighted to announce its second investment into the trailblazing intimacy brand maude," said company director Thomas Buisson. "Non-explicit, beautiful, intelligent and bold, Eva's approach has allowed her to create a safe space for thoughtful interactions on how intimacy can actually be a pathway to global wellness. Under her inspiring and truly remarkable leadership, maude has not only grown into a very successful business, but it also carries all the hallmarks of becoming a global leader in the industry. We look forward to our partnership with maude on this journey that is in equal measures exciting, important and long overdue."
The raise follows maude’s introduction of new products and the announcement of actor Dakota Johnson as a co-creative director. In addition, the raise will support the expansion of maude into international markets, the company said.
"Following our seed investment at the end of last year, we've been blown away by Éva and the team and couldn't turn down the opportunity to support a business that continues to outperform, and embodies everything we look for in the brands we support; one that has a great founding team, that is digital-first, fit-for-the-future and operating at the heart of attitudinal and consumer behavior shift," said Claire Cherry, investment principal at True. "We are looking forward to supporting maude through introductions we can make across our retail and consumer network as it launches its exciting rollout into the U.K. and Europe."
The latest round of investors joins existing funds RRE, CASSIUS, Tune House Capital, Outbound Ventures, Vice Ventures and Patina Brands — and angels including Benjamin Millepied, Steven Alan and Cédric Aumonier.
Advisors include Anna Sedgley, former CFO, Dow Jones; Gene Han, former VP of New Ventures, Target; Jennifer Conti, MD, OB/Gyn Stanford University School of Medicine and co-author, “The Vagina Book"; and Donald Wilson, Ph.D., NYU Grossman School of Medicine, and co-author, “Learning to Smell.”
Products can be purchased at GetMaude.com and from retail partners across the U.S. and Canada.
