Billie, a direct-to-consumer shaving and body care products subscription service, has raised $4 million in new funding which closed the seed found with a total of $6 million. This round was led by Silverton Partners in Austin and included existing investors Female Founders Fund and Lakehouse Ventures.
WHO: Female-focused shaving subscription service Billie, launched in November of 2017 by co-founders Georgina Gooley and Jason Bravman, is based on selling razors and personal care products without the “Pink Tax.” The business opportunity lies in the belief that women’s shaving needs have been overlooked by traditional grooming brands. Billie is a female-first shave and body brand delivering premium-quality razors and skincare at half the price of the competition. The razors are specifically designed for women’s shaving needs with rounded edges, more space between the cartridge blades, and a cartridge that is encased in soap.
WHY: The company has earmarked the new funding towards new hires and ramping up inventory.
IN THEIR OWN WORDS: “Women were missing from this category for no real reason—just as many women shave as men,” co-founder Georgina Gooley says. “We were left with the option to overpay or having to opt for the more affordable men’s razor, which isn’t designed with women in mind, who have to shave in the shower.”
“Billie is revolutionizing an industry that has been historically dominated by male brands,” said Sutian Dong, a partner at Female Founders Fund.
“Billie is standing in front of a huge untapped market,” Mike Dodd, general partner at Silverton Partners and soon-to-be board member of Billie, said in the press release. He added that the founders of the company have “created a brand that speaks perfectly to this opportunity.”
- Billie subscription service has raised $4 million in new funding.
- The round was led by Silverton Partners in Austin and included existing investors Female Founders Fund and Lakehouse Ventures.
- The company exceeded its first year of sales projections in less than four months, selling out of product three times.
- The New York-based start-up previously raised $2.5 million.
Photo credit: via Billie website