Feminine care company LOLA raised a Series B funding round of $24MM. The round was led by Alliance Consumer Growth Capital, with additional support from existing investors including Spark Capital, Lerer Hippeau, and Brand Foundry Ventures.

WHO: LOLA, launched in 2015, makes tampons, pads, and liners made with organic cotton, a first-period kit, and a cramp care collection. Earlier this year, the company ventured into sexual products with condoms, personal lubricant, and natural feminine cleansing wipes. For now the business is exclusively direct-to-consumer but is considering going into retail.

WHY: The business plans to use the capital to expand categories, fund offline projects, and expand its team.

IN THEIR OWN WORDS: “What we’ve been able to do over the last three years is take a conversation that started with just menstruation and even more specifically, with tampons and ingredients, and expand it beyond just a product,” Jordana Kier, cofounder of LOLA, said to WWD. The goal is to get women to have conversations and think about reproductive health as part of their “wellness routine,” Kier noted.

DETAILS:

• LOLA raised a Series B funding round of $24MM. The round was led by Alliance Consumer Growth Capital, with additional support from existing investors including Spark Capital, Lerer Hippeau, and Brand Foundry Ventures.
• In 2015, Jordana Kier and Alex Friedman founded LOLA with $1.2MM in funding.
• In 2016, they secured another $10MM in funding, between a $3MM seed round and a $7MM Series A round with support from investors including Lerer Hippeau, Brand Foundry Ventures, BBG Ventures, 14W, and the founders of Warby Parker, Harry’s, Sweetgreen, Bonobos, and Insomnia Cookies. They have also generated support from celebrity investors, including Serena Williams, Karlie Kloss, Lena Dunham, and Allison Williams.