- Femtech e-commerce apparel company Ruby Love announced a deal totaling $15 million from The Craftory with an initial Series A funding round of $8 million
Ruby Love — a femtech e-commerce apparel company and pioneer in the period apparel industry — announced a deal totaling $15 million from The Craftory with an initial Series A funding round of $8 million.
Since being founded in 2015, Ruby Love increased sales from $300,000 following its first year to over $10 million in sales in its third year with product collections now including period underwear, period kits, period swimwear, activewear, loungewear, double sided-pads and incontinence boxer briefs with leak-proof protection so no tampon is required.
Ruby Love CEO and founder Crystal Etienne had identified a need in the femtech market for comfortable, easy-to-use, and period apparel. And Etienne developed Ruby Love’s revolutionary technology featured in each of the brand’s products. Through rigorous testing of hundreds of prototypes, Ruby Love has created a smart and intuitive design with built-in technology that offers maximum absorption, protection against leaks and stains, peace of mind, and complete discretion so period days can be like any other day.
Ruby Love is already a pioneer in the femtech space and it is the first brand to launch period swimwear. Ruby Love is proven to be a leader within the teen feminine care demographic utilizing streamlined turnkey sales strategies without using gimmick advertising.
Ruby Love’s products include period underwear, period kits (Ruby First Period Kit and Ruby Repeat Monthly Period Kit) as well as period swimwear, activewear, loungewear, double-sided pads and incontinence boxer briefs with prices ranging from $15.99 to $159.99. And the sizes range from extra small to 3X.
Etienne is considered a frontrunner in the African-American female tech industry as she built Ruby Love to a $10 million company in less than three years starting with just a $25,000 investment without any outside funding until now. She had bootstrapped the company from its humble beginnings to its recent success. And Etienne is going to work in tandem with the rest of the Ruby Love team and The Craftory to accelerate growth.
Around $85 billion of venture funding was generated in the US last year and female founders represented just 2.2%. And women of color received less than 1% of the total.
“I founded the brand in hopes that period issues be consigned to history, and I am excited to continue the growth of the company with the help of the team at The Craftory,” said Etienne in a statement. “Their support means that my vision for Ruby Love – to deliver confidence to women, whatever time of the month – can continue to be a reality.”
With this latest deal of $15 million, Ruby Love plans to continue investing in the brand’s expansion, product development, and brand-related campaigns. The Craftory is going to acquire a stake in the Ruby Love business as a result of the funding round. And Ruby Love will be The Craftory’s first femtech partner brand.
“We are thrilled to be a part of the next stage of Ruby Love’s growth and look forward to working with Crystal Etienne as the business continues to grow and innovate,” added Olivia Cramer — the Deal Crafter at The Craftory. “A technological breakthrough in this space was long overdue and brands like Ruby Love, led by inspiring entrepreneurs like Crystal, are essential for the development of a more open, progressive society.”
Trending on Pulse 2.0
- How Microsoft Plans To Help Upskill 25 Million People By The End Of The Year (MSFT)
- Raytheon Technologies (RTX) Names Dantaya Williams As Chief Human Resources Officer
- ClickUp: $35 Million Funding And Remote Work OS Product Suite Launched
- EY Partners With Hult To Offer Free Virtual Corporate MBA For Company Employees