Harry’s has raised a $155 million Series E round of funding at a $1.7 billion valuation.
WHO: Harry’s has been a disruptive force across the men’s and women’s shaving market and adjacent grooming and personal care categories. Today, Harry’s is comprised of Harry’s—the company’s flagship brand, founded in 2013 by Andy Katz-Mayfield and Jeff Raider—Flamingo, and Harry’s Labs. Harry’s owns and operates its own razor factory in Eisfeld, Germany, and employs more than 900 people across the US, UK, and Germany. Harry’s portfolio consists of women’s grooming and personal care brand Flamingo and Headquarters, a haircare brand focused on scalp health.
WHY: Harry’s will use the new capital for product and brand development. Harry’s now has more than $200 million in cash to make deals with brands that can leverage the company’s design, marketing, and direct-to-consumer capabilities.
IN THEIR OWN WORDS: “There’s a ton of consumer brands out there that are high growth and disrupting existing categories,” says Katz-Mayfield. “M&A will be a pretty important part of the strategy.”
“Jeff and Andy have real-world experience and think about the business like investors who create a portfolio of brands and opportunities,” says Jeff Robinson, a managing director at Bain Capital. “They have executed exceptionally well, and we think they have the capability and playbook to do it again in other segments of the consumer world.”
“Harry’s should be the platform of choice for other founders who are a couple of years behind them in their evolution,” says Robinson. “We’re bullish on their ability not just to incubate additional products in-house, but also acquire innovative brands and bring a professionalized distribution and marketing campaign to them.”
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