THE WHAT? Intimacy brand Maude has raised U.S.$5.8 million in an oversubscribed Series A funding round, led by beauty and wellness-focused fund True Beauty Ventures.
THE DETAILS Having now raised over US$10 million via four rounds, other participants include Fable Investments, UK consumer company True and media company Endeavor.
Maude is set to use the finance injection to grow its team as well as its product line and content platform.
THE WHY? The company is looking to capitalize on the growing sexual health and personal care markets, stating it is aiming to position itself as a leader.
Founder Éva Goicoche said, “Before we launched, the sexual wellness industry could be defined by the ubiquity of the experience, be it on shelf or online: The confusing over-assortment and opaque quality standards, inflated pricing (particularly on devices), and the tired, gendered tropes of how to sell “sex”. Through accessible design and fair pricing, we’re here to set the new standard in the category. We stand out as the only company that focuses on modern intimacy—for all people.”