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Shavelogic Closes $100 Million in Financing

October 01, 2021 BeautyMatter
October 01, 2021
Shavelogic

Shavelogic raised $100 million in growth capital from Jefferies, with Aon's Intellectual Property Solutions playing an important role in helping to secure key Collateral Protection Insurance to support the financing.

WHO: Founded in 2009 by Rob Wilson and Duwayne Miller, Shavelogic invested over a decade securing over 150 global company patents before launching its SL5 shaving system in 2020. Defying competitor convention, the Dallas-based company is challenging the nearly $11 billion global razor industry, focusing on technology and performance over a price-driven approach.

WHY: Shavelogic recently opened its first manufacturing facility in the US to meet consumer demand and has a team of seasoned shave industry veterans and technology-minded industrial designers and engineers in place.

IN THEIR OWN WORDS: "We have the opportunity now to introduce our shaving system to consumers who simply don't know what they're missing while continuing to improve our product and business to meet our own high standards," said Shavelogic CEO, Rob Wilson.

“We are excited to help innovation-driven, IP-rich companies like Shavelogic unlock the value of their IP assets, supporting their growth ambitions and minimizing ownership dilution," said Aon's Intellectual Property Solutions CEO Lewis Lee.

"Breaking through in an industry like ours takes dedication and teamwork, so having a capital partner like Jefferies is an essential benefit that will help us accelerate market share growth and drive stakeholder value," said Shavelogic co-founder Duwayne Miller.

DETAILS:

  • Aon, using its proprietary intellectual property (IP) valuation platform to value Shavelogic's IP portfolio, arranged for IP Collateral Protection Insurance for Jefferies, collateralized by Shavelogic's IP portfolio and company assets.
  • Shavelogic recently announced it was partnering with manufacturing solutions provider Jabil Inc. to advance its design and production goals and help it scale globally.
  • Shavelogic had hired former Gillette employees Craig Provost, John Griffin, William Tucker, and Douglas Kohring, all of whom were involved in the design of the Shavelogic razor. Shavelogic obtained a patent for the magnetic attachment, with Provost and Griffin listed as co-inventors.
  • In 2015, Proctor & Gamble's Gillette filed suit against Shavelogic and four of its employees (who had previously worked at Gillette), seeking to prevent disclosures of its confidential information. Gillette sought a jury trial and unspecified damages against the Dallas start-up. In 2017, Shavelogic prevailed when a Massachusetts judge dismissed the suit, allowing a Shavelogic countersuit to continue.
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