Scentbird, the subscription-based fragracbe company, has announced it has raised $18.6 million in a series A funding round. The company grew 110%+ in one year -- shaking up a multi-billion-dollar industry.
The funding round marks one of the largest ever secured by a direct-to-consumer brand led by a female CEO.
The digital company will use the proceeds to accelerate product innovation and market expansion with an added focus on consumer experience and new talent.
Mariya Nurislamova, CEO / co-founder, says, "Attracting investors who understand the unique digital landscape and what we offer consumers, will bolster our position in the beauty industry on a larger scale. This funding shows the investors' confidence in our team, the market opportunity, and our mission. It will allow us to keep moving at a fast pace while cultivating the creativity and technology to continually build our brand."
Funding was led by Goodwater Capital, a next generation consumer technology firm, and joined by Y Combinator, Rainfall Ventures, FundersClub, Soma Capital, Scrum Ventures, ERA, and others.
Eric Kim, co-founder and managing partner at Goodwater Capital, adds, "At Goodwater Capital our focus is on supporting entrepreneurial innovators who are not only disrupting product categories but who are also challenging the status quo."
Since the company's initial seed round, Scentbird has grown from only 400 subscribers to now over 250,000 subscribers across the United States. The company is co-founded by Mariya Nurislamova (CEO), Sergei Gusev (COO), Andrei Rebrov (CTO), and Rachel ten Brink (CMO).