Cora, a women’s wellness company that offers natural and organic tampons, pads, and other personal care, has announced it raised $7.5 million in Series A1 funding and has expanded upon its board of directors — which is now 80% female. This round of funding was led by Harbinger Ventures, an investment firm that is focused on scaling early-stage female-led companies. Existing Cora investors along with Cambridge SPG participated in this round as well.
“Since Cora was founded, the brand has grown 400 percent year-over-year,” said Cora co-founder Molly Hayward. “With the expansion of our board and solid, smart funding in place, we’re in a strong position to further our mission to revolutionize the female experience for women here in the U.S. and across the world.”
Along with its direct-to-consumer online subscription offering — which has grown substantially — Cora also built a strong offline presence in order to meet consumers exactly where they shop. With this funding round, Cora is going to support brick-and-mortar expansion at all Target locations, including broader in-store product offerings. And Cora is also going to use the funding to fuel product innovation as it continues disrupting the feminine care space with proprietary products that eliminate harmful ingredients without compromising product efficacy.
The company also announced it added two new members to its board of directors, both of whom have years of expertise in CPG and disruptive retail which will help Cora continue to evolve beyond the subscription-based model. The board members now include Cora co-founders Molly Hayward and Morgen Newman along with Megan Bent (Harbinger Ventures). And the new board members are Lisa Bougie (former GM of Stitch Fix) and Andrea Freedman (former CFO of Method and Kendo Brands).
“Cora’s track-record in social impact and breakthrough innovation uniquely separates itself in a massive but tired category,” added Harbinger Ventures founder and managing partner Megan Bent. “We’ve been impressed with Cora’s focus on efficiency and thoughtful fundraising, which puts them in a strong position for long-term, sustainable growth.”
Cora has eliminated 40 of the most egregious chemicals found in conventional feminine care products. And with every Cora product sold, the brand provides menstrual products and health education to a girl in a developing country. The company is also addressing age-old conversations and barriers around women’s bodies through its content platform called Blood and Milk.
Cora is the first and only company to offer a woman both innovative products and accessories such as a fashionable storage container and travel case for managing her period through her busy days. The company combines their innovative and holistic period care solution. As part of the company’s social impact model, Cora provided five million pads to girls in need in India and Kenya along with 100,000 products to women in need in the U.S.
