On-line Drugstore Athena Membership Raises $15M VC Spherical – WWD

Athena Membership, a direct-to-consumer operation that sells grooming, wellness and interval merchandise, has raised a $15 million Sequence A spherical of funding.

The spherical was co-led by Cue Ball Capital, with participation from Shazi Visram, founder and chief government officer of Pleased Household Organics; Stefanie Jay, chief enterprise and technique officer of eBay, and present seed buyers. Thus far in complete, Athena Membership has raised $26 million.

Athena Membership relaunched in 2019 as an e-commerce operation with its personal product line. Clients arrange subscriptions, with the choice so as to add extra merchandise to their order.

The enterprise presently sells a $9 razor equipment, $15 physique wash, $12 deodorant and different merchandise. Merchandise are made with out substances like artificial fragrances, aluminum, parabens and triclosan, and the road has an ingredient glossary on its web site to clarify the substances that do wind up in its formulations.

Athena Membership’s subscriber base grew by greater than 2,000 % in 2020, in keeping with the corporate. Finally, the model’s objective is to modernize the buyer packaged good house — and the pharmacy procuring expertise.

“We’re constructing a one-stop store for everybody’s something important. We’re very targeted on product high quality, affordability and comfort,” mentioned Maria Markina, co-chief government and cofounder.

With the funding, Athena Membership plans to develop its person base, develop its product providing, enhance the digital expertise and develop the staff.

“We’re constructing a contemporary digital drugstore expertise,” Markina mentioned. “General, we’re actually targeted on turning into the primary digitally native CPG firm.”

The corporate will develop into different classes, the founders mentioned, and look to disrupt markets that the foremost CPG gamers presently dominate. “We actually depend on our clients and information to tell our selections as we transfer ahead, however loads of these classes have been dominated by legacy firms usually launching the identical product below a brand new model so we actually need to sort out something that it’s someone’s routine,” Markina mentioned.

Athena Membership will work on personalizing the digital expertise, Markina famous, and can also be engaged on launching refillable merchandise. “A part of the way forward for CPG can also be sustainability,” mentioned co-CEO Charles Desmarais. “We’re engaged on some actually cool refillable ideas.”

For now, the corporate plans to proceed to promote direct-to-consumer.

“We don’t management the expertise if we had been to promote via Amazon as a lot — it’s just a little riskier. What if somebody had been to obtain a faux product? Ultimately, we’d give it some thought,” mentioned Desmarais.

For extra from WWD.com, see:

Source link