Dollar Shave Club is a website that spun out of Science Inc. with $1 million in funding from Kleiner Perkins and Andreessen Horowitz. Today Dollar Shave Club announced that they have raised $9.8 million in a Series A round of funding. Venrock Capital led this round of funding.
Dollar Shave Club lets you select one of their razors for a low monthly fee. The lowest end razor costs $1 per month plus shipping and handling. There is a $6 per month plan and a $9 per month plan.
David Pakman, one of the partners at Venrock, is joining the board of directors at Dollar Shave Club. “It’s a very exciting company that, on a very limited amount of capital thus far, has built an incredibly well-known brand with many loyal subscribers. You really have to hand it to them. Not just buzz, but a real business,” stated Mr. Pakman in an interview with BusinessInsider.