New York based feminine care company; LOLA has raised a Series B round of $24 million fresh funding which was led by Alliance Consumer Growth Capital. The investment round saw participation from existing investors that included Spark Capital, Lerer Hippeau, and Brand Foundry Ventures.
LOLA is a subscription model-based delivery service which delivers products such as tampons and pads, and now other products, including condoms, lubricant, and feminine cleansing wipes. Alex Friedman and Jordana Kier had founded the firm which delivers 100% organic products unlike industry giants like Tampax and Playtex.
With the investors like BBG Ventures, 14W, the founders of Warby Parker and Harry’s, Sweetgreen, Bonobos, and Insomnia Cookie and celebs like Serena Williams, Karlie Kloss, Lena Dunham, and Allison Williams, the firm has secured a total of $11.2 million in funding.
Kier, talking about the company and it's the idea of the firm said that “We founded LOLA with a simple and seemingly obvious idea – as women, we shouldn’t have to compromise when it comes to our reproductive health." “Like most women, we’d been using the same feminine care products since we were teenagers. But when we found out that brands – including the same ones we were loyal to all those years – aren’t required to disclose exactly what’s in their products, it made us wonder : what’s in our tampon?" she added.
Products related to periods like period-related products, including an essential oil blend for cramps, a multi-vitamin that protects against PMS, and a first-period starter kit helps LOLA be different than the other players working in the sector.
The company had recently launched SEX by LOLA in order to become a female dominated space. “Until now, there wasn’t really a place for women to turn to for honesty, reliability, and information when it comes to their sex products. “Historically, sexual wellness companies have been primarily marketed towards men and promote products that contain obscure ingredients and unnatural additives," said Kier.
Image Courtesy : LOLA,Newyorktimes