Launched: 2018
Founder: Eva Goicochea
Key Executives: Eva Goicochea, Founder and CEO
Points of distribution projected globally for 2024:
33 Countries DTC, 16 Countries Retail (500 doors)
Projected revenue 2024: $10 to $20 million, according to industry estimates.
Primary Category: Personal Care
Other Categories: Body Care
Key Markets:
Retail Partnerships:
Primary Distribution Channel: DTC
Other Distribution Channels:
Funding Rounds: Venture Capital
In 2021, 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.
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.
In 2019, Vice Ventures made an undisclosed investment in Maude.
Maude also received angel investment from actor Dakota Johnson, Benjamin Millepied, Steven Alan, and Cédric Aumonier.
Total Funds Raised: $13.3 million
Notable Investors / Funding Partners:
Angels:
Notable Advisors / Board Members:
Having been interested in public health—I was a legislative aide in healthcare early in my career—and coming from a product background as a brand and social media strategist later on for mission-driven companies like Everlane, I always aspired to create a consumer goods company that solved for everyday wellness specifically in sexual health because ultimately, I believe it’s the foundation for how we feel about ourselves and others. If you look at the typical consumer experience around sexual health, either in a drugstore or sex shop, it’s the last frontier in personal care.
After a conversation with friends around why there was no sexual health company taking this approach and realizing the industry was outdated with no sign of it changing, I decided to create Maude, a brand for all people. We are modern intimacy.
Insights shared by Eva Goicochea, Founder and CEO
Key business initiatives for 2024:
2024 is about continuing to pave the way for the prestige sexual wellness industry through a focus on the right key partners including Sephora, Amazon, and our global beauty retailers; solidifying metrics and efforts for a profitable and solvent business; and rounding out our product assortment with two new launches—one of which focuses on our male audience.
What are you most proud of having accomplished since the business has launched?
Since launching our brand, we've achieved numerous milestones that fill us with pride. First, our products have not only gained recognition but have earned a total of 10 prestigious awards, a testament to their quality and innovation. We've also made history by becoming the first in our category to be featured in Sephora stores across the US and have expanded into an impressive 33 countries, demonstrating our ability to resonate with a diverse global audience. On the fundraising front, we successfully raised $13.3 million, positioning us as one of the most-funded Latina-led brands in both the consumer market and our specific category.
Our entrepreneurial journey has been filled with accolades, including the prestigious Beauty Independent 2023 Beacon Awards where we were honored with the Entrepreneur of the Year award. We've also been recognized as one of Vogue Business' 100 Innovators and acknowledged as a WWD Beauty Inc Power Brand. Over the course of five years, we've accumulated a total of 13 awards, both as a brand and as a founder. To cap off 2023, we unveiled an exhibit at the Museum of Sex in Miami, featuring Dakota Johnson. This exhibit celebrated 100 years of the beauty industry and underscored the historical significance of this category.
These achievements are a testament to our commitment to innovation and our dedication to making a lasting impact in the beauty industry in years to come.
What has been the biggest surprise since the brand was founded?
While consumer demand is great and press reception has been wide/far, the continued hurdles with platform advertising policies, LP/funding restrictions, and general stigmas are surprising given that we're in 2024. As a brand that is not explicit; we've been able to break through some of these challenges, but often they feel like antiquated perspectives that are misaligned with public/customer sentiment.
What fuels your competitive advantage?
Foundationally, maude is a brand made for all that aims to create space for sexual wellness to sit next to prestige/masstige beauty and body/skincare. Inclusivity and creating a smart conversation around intimacy are the foremost considerations when we design product, messaging, and brand imagery. Because of this, we've a wide audience with almost an even gender split across age groups thus making us unique in the category.
Please share your insight on the future of the beauty industry.
The future of the beauty industry is one that has been furthered by blurring the lines between categories, creating an umbrella of beauty, health, and wellness that is holistic and thoughtful and based on the psychographic needs of the consumer vs just demographics. With access, personalization, and education proliferating beauty and beauty education across platforms, the future of beauty is being written in real time by real people.
What is the best piece of advice you’ve been given?
There is no arrival sign. You can continue to hit milestones, receive accolades, and grow, but you'll almost always feel like there is more to do.
What is the best mistake you've ever made and what did you learn?
There are too many to count but some of the biggest mistakes I've made were running before I walked, approaching a large legal firm to represent us out of the gate, spending unnecessary money for marketing in the early days, and hiring consultants that weren't necessary—along with giving away equity to advisors. I learned that accelerated growth comes from thoughtful testing and consideration and that, while it seems daunting at first, you have to trust the process of building things one step at a time.
Paying it forward, what advice would you give to someone contemplating launching a beauty brand?
Do your homework and research, understanding the actual risks and rewards. It's very easy to get caught up in stories of success, but the reality of building a beauty business requires thousands of steps, the gumption to succeed, and the foresight to understand how to make necessary choices to ensure the viability of your company. In short, do not be attracted to shiny objects! Be driven by a mission and a belief that what you are building is needed in the world and the thing you'll want to get up and do every day—rain or shine.
If you could change one thing in the beauty industry what would it be?
I'd like for the beauty industry to recognize that sexual wellness is a category within the sphere of body care, and it is not synonymous with feminine care. Sexual health affects all people and should be for all people.
