Lola, an early adopter of the direct-to-consumer, better-for-you tampon model, has raised a $24 million series B round.
The round was led by ACG — an investor in Harry’s, Tata Harper and Nudestix — with support from existing investors Spark Capital, Lerer Hippeau and Brand Foundry Ventures. Karlie Kloss, Lena Dunham, Allison Williams and Serena Williams are also early investors in the brand.
The business plans to use the capital to expand categories, fund off-line projects and expand its team. (At present, Lola has 19 full-time employees.)
Lola, launched in 2015, makes tampons, pads and liners made with organic cotton, a first-period kit and a cramp care collection. Earlier this year, the company ventured into sex products with condoms, personal lubricant and natural feminine cleansing wipes.
“What we’ve been able to do over the last three years is take a conversation that started with just menstruation and even more specifically, with tampons and ingredients, and expand it beyond just a product,” said Jordana Kier, cofounder of Lola. The goal is to get women to have conversations and think about reproductive health as part of their “wellness routine,” Kier noted.
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As far as categories, Kier sees potential to expand to cover products women need on their wellness journeys, from their first period to last hot flash, she said. The brand — for now exclusively direct-to-consumer — is also considering going into retail so products are available to consumers wherever they are trying to shop.
Lola sits in a women’s wellness segment that increasingly overlaps with the beauty industry. For more, see The Vagina Diaries: Beauty World Embraces Feminine Care.