TOP (The Organic Project), a maker of organic tampons and pads, extended its seed round to raise an additional $2 million.
WHO: Founded in 2018 by corporate leaders and mothers CEO Thyme Sullivan and President Denielle Finkelstein, TOP (The Organic Project) sells tampons and pads made with 100% organic cotton, free from synthetics, toxins, pesticides, dyes, and fragrances. The start-up's products are sold in 1,500 retailers nationwide, including Sprouts, HEB, Fresh Thyme, Erewhon, and Wegmans.
WHY: The new capital will help TOP to capitalize on strategic expansion and partnerships, bolster marketing initiatives, and grow their team.
IN THEIR OWN WORDS: "For too long, the feminine category and female-founders have been overlooked when it comes to investment in innovative, effective and sustainable solutions for girls and women," said Thyme Sullivan, co-founder and CEO of TOP. "As former corporate executives and mothers to daughters, we plan to leverage this new capital to re-invigorate the category with the introduction of functional organic period products that bring joy and also support our goal of giving back to our communities."
“There were some other brands that were out there, but they're all speaking to millennials. We are really focused on the Gen X mom and the Gen Z daughter, and really starting when they're getting their first period," Denielle Finkelstein, co-founder and President of TOP, said. "Eighty percent of girls will use the same period product that their mother gave them for their first period for their lifetime. So, if we can really ensure that generation gets a better product earlier on in their life, that's the longevity we can have and that lifetime value.”
“TOP is poised to lead the category forward with innovative and effective solutions in feminine care," said Susan Morris, investor at both Maine Angels and Dirigo Fund. "We're proud to partner with two of the boldest women in the business who are also motivated mothers as they set a new standard in feminine care and create access to sustainable period products for all menstruators.”
“From our first meeting, we were extremely impressed by TOP and the team's experience in consumer goods, brand building and supply chain," said Barbara Clarke, founder and President of The Impact Seat. "We haven't seen a team with this capability in a while, and I am sure my fellow investors would agree. We are super excited about this opportunity!”
- TOP extended its seed round of funding with an additional $2 million in capital.
- The MassMutual Catalyst Fund and The Impact Seat led the investment with participation by Maine Angels, Dirigo Angel Fund, Warfield Capital Partners, 37 Angels, Charlottesville Angel Network, NU Impact, Spacestation Investments, Valedor Partners, and individual angel investors.
- TOP said it has raised a total of $3 million to date, including a $900,000 seed round in early 2020 led by Maroon Venture Partners Fund.
- To address period poverty, TOP donates period products for every purchase. To date, the start-up has donated over 800,000 products across the country.
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