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Maude Closes $5.8MM in Series A Funding

July 07, 2021 BeautyMatter
July 07, 2021
Maude

Sexual wellness brand Maude raised an oversubscribed $5.8 million Series A funding, bringing the total capital raised since the brand launched in 2018 to over $10 million.

WHO: Maude was founded by Éva Goicochea in April 2018 after successful careers in healthcare legislation and brand strategy. As a brand built on quality, simplicity, and inclusivity, Maude is a modern intimacy company focused on sexual wellness for all people. The brand launched with four sex essential products and expanded to bath and body products, taking intimacy outside of the bedroom.

WHY: The new capital will be used to expand the Maude product line, marketing, educational content, and the team.

IN THEIR OWN WORDS: "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," says Goicochea.

Sexual wellness has long been the last frontier in personal care, but the customer expects better," Goicochea says. "Like in beauty, we believe in taking an integrated and holistic approach—not a compartmentalized view of sex. At our core, we're an evergreen brand thoughtfully built for the every day of your entire adult life.

Maude is a category leader with a clear mission to democratize and destigmatize an antiquated view of sex while reframing intimacy as self care," said Cristina Nuñez of True Beauty Ventures in a statement. "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."

Fable Investments is delighted to announce its second investment into the trailblazing intimacy brand Maude," says Thomas Buisson, Director of Fable Investments. "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.

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," says 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 roll-out into the UK and Europe.

DETAILS:

  • Maude raised an oversubscribed $5.8 million Series A funding led by True Beauty Ventures with participation from UK consumer fund True, William Morris Endeavor, and Fable Investments.
  • Maude has raised more than $10 million in capital over four rounds of funding to date from investors like RRE, Cassius, Tune House Capital, Outbound Ventures, Vice Ventures, and Patina Brands. Angel investors included Benjamin Millepied, Steven Alan, and Cédric Aumonier.
  • Forbes reports the company's current annual revenues are in the mid-to-high seven figures, and growth of over 200% year over year. The brand expects to become profitable in 2022.
  • In November 2020 Maude closed a funding round of $2.2 million led by Cassius with participation from True, Outbound Ventures, Vice Ventures, and Patina Brands, bringing its total seed financing to $3.7 million.
  • Cristina Nuñez of True Beauty Ventures and Paola Felipak of Fable will join the Maude board as part of the transaction.
  • Actor Dakota Johnson of the 50 Shades of Grey franchise is an investor, and joined the team as co-creative director in 2020.
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