The consumer packaged goods sector has historically been controlled by large multinationals such as Unilever, Procter & Gamble, Johnson & Johnson, etc. However, startups have been moving into the space, applying the same sort of technologies that have already transformed the broader retail industry — direct-to-consumer business models, subscription options, personalized products, and more — to high-turnover consumer verticals like laundry detergent and facial wipes.
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Unilever made perhaps the biggest recent move in personal care startups, with its $1B acquisition of direct-to-consumer razor startup Dollar Shave Club in July 2016. By giving Unilever, a conglomerate with dozens of brands that typically sell through grocery and drug stores, a new online sales platform, the deal is emblematic of brands’ growing motivation to bypass brick-and-mortar stores altogether. In December 2016, another major beauty startup, Julep Beauty, which had raised over $60M from Andreessen Horowitz, Maveron, and others, was acquired by personal care portfolio company Glansaol.
Dozens of other startups are attracting investment to compete with the goods typically sold at drug stores. Many of these leverage direct-to-consumer models, while some also sell through CVS, Sephora, and other retail partners.
We used CB Insights data to create the market map below highlighting 83 startups attacking various product verticals within the drug store business that have raised funding since 2014. These startups have raised $1.2B in aggregate, led by Harry’s Razor Company ($287M in disclosed funding) and The Honest Company ($222M in disclosed funding). Harry’s and The Honest Co. share one investor, Boston-based Wellington Management. Tria Beauty, which makes at-home hair removal devices, rounds out the top three with $207M.
After these three leaders, we see a significant funding drop-off. No other startup on the map has raised more than $100M, and the fourth most well-funded startup on the map, skincare company Restorsea, has raised $57M to date. VC firms have backed just over 40% of these startups, while the others are generally backed by private equity firms or other investors. We’ve delved into some of these areas in more detail elsewhere, including pet tech and vitamins.
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| Company | Select Investors | Category |
|---|---|---|
| Before Brands | Gurnet Point Capital | Baby Care |
| Gdiapers (Down to Earth Designs) | 2x Consumer Products Growth Partners, Golden Seeds | Baby Care |
| NurturMe | Advantage Capital Partners, Central Texas Angel Network, EcoEnterprises Fund | Baby Care |
| Once Upon a Farm | Cambridge SPG, CircleUp, Harbinger Ventures, S2G Ventures | Baby Care |
| Bloomup | ACG Management | Bathing & Hygiene |
| Dude Products | Mark Cuban | Bathing & Hygiene |
| Fresh Monster | Telluride Venture Accelerator | Bathing & Hygiene |
| Reviver | Lori Greiner | Bathing & Hygiene |
| Saavy Naturals | Barbara Corcoran | Bathing & Hygiene |
| Savvy Travelers | N/A | Bathing & Hygiene |
| Seaweed Bath Co. | 2x Consumer Products Growth Partners, CircleUp | Bathing & Hygiene |
| Skinjay | Seventure Partners | Bathing & Hygiene |
| SoapBox Soaps | N/A | Bathing & Hygiene |
| Flosstime | San Joaquin Angels | Dental Care |
| GOBY | Lerer Hippeau Ventures, Red Sea Ventures, Correlation Ventures | Dental Care |
| Kolibree | CapHorn Invest, Dental Investment Group for Health, Innovacom, SOSventures | Dental Care |
| Quip | Trisiras Group | Dental Care |
| Aunt Flow | CrowdRise | Feminine Care |
| Cora (LYV Life) | N/A | Feminine Care |
| Flex Company | Amplify, Bow Ventures, Ellen Pao, FundersClub | Feminine Care |
| Lola | 14W Venture Partners, BBG Ventures, BoxGroup, Brand Foundry Ventures, Josh Kushner, Lena Dunham, Lerer Hippeau Ventures, Spark Capital, Vayner RSE | Feminine Care |
| TamponTribe | N/A | Feminine Care |
| eSalon | Undisclosed | Hair Care |
| Formula XO | Nodal Partners | Hair Care |
| Function of Beauty | GGV Capital, Y Combinator | Hair Care |
| goodDYEyoung | N/A | Hair Care |
| Madison Reed | Comcast Ventures, First Round Capital, Norwest Venture Partners, Peterson Ventures, True Ventures | Hair Care |
| Aunt Fannie | Alissa Sears, Barclay Hope | Household Goods |
| BlueAvocado | Affinity Angel Investment Fund, Baylor Angel Network | Household Goods |
| Grab Green | CircleUp, Stoneway Capital | Household Goods |
| Repurpose | N/A | Household Goods |
| SweatX (Renegade Brands) | Eldridge Industries, Elysian Park Ventures | Household Goods |
| The Honest Company | Lightspeed Venture Partners, Institutional Venture Partners, General Catalyst | Household Goods |
| Ardency Inn | N/A | Makeup |
| BeautyCounter | TomorrowVentures, TPG Growth | Makeup |
| Glossier | Forerunner Ventures, Index Ventures, Institutional Venture Partners, Lerer Hippeau Ventures | Makeup |
| Juice Beauty | Invus Group | Makeup |
| Lilah Beauty | N/A | Makeup |
| Milk Makeup | Main Post Partners | Makeup |
| NUDESTIX | Alliance Consumer Growth | Makeup |
| One Two Cosmetics | N/A | Makeup |
| Pacifica Beauty | Alliance Consumer Growth | Makeup |
| Stowaway Cosmetics | Compound Ventures, Slow Ventures, Vayner RSE | Makeup |
| Thrive Causemetics | Sephora Accelerate | Makeup |
| Heads Up For Tails | N/A | Pet Care |
| Hexa Foods (dba Wilder & Harrier) | Anges Quebec | Pet Care |
| Ollie | Canaan Partners, Lerer Hippeau Ventures, Primary Venture Partners | Pet Care |
| PetPlate | BrandProject | Pet Care |
| The Farmer’s Dog | Collaborative Fund, Forerunner Ventures, SV Angel | Pet Care |
| Therabis | N/A | Pet Care |
| Harry’s Razor Company | Bullish Partners, Harrison Metal, Thrive Capital | Shaving |
| TRIA Beauty | De Novo Ventures, Technology Partners, Vivo Capital, Aisling Capital | Shaving |
| Walker & Company Brands | Andreessen Horowitz, Collaborative Fund, Floodgate, Google Ventures, Upfront Ventures | Shaving |
| Babo Botanicals | N/A | Skin Care |
| Carson Life | CSA Partners, gener8tor | Skin Care |
| Drunk Elephant | Leandra Medine, VMG Partners | Skin Care |
| First Aid Beauty | Castanea Partners | Skin Care |
| Goddess Garden | Renewal Funds, | Skin Care |
| Green Gorilla | Steven Saxton | Skin Care |
| Koco Life | Ashton Kutcher, Hilary Duff, Karlie Kloss, L Catterton, Mila Kunis | Skin Care |
| Mavericks | N/A | Skin Care |
| Merci Handy | Otium Capital | Skin Care |
| Nerd Skincare | Indie.Bio | Skin Care |
| Ogee | N/A | Skin Care |
| One Love Organics | Sephora Accelerate | Skin Care |
| Pangea Naturals | Greenmont Capital Partners, Simon Equity Partners | Skin Care |
| Radical Beauty | N/A | Skin Care |
| Restorsea | LMN VC | Skin Care |
| Shamanuti | N/A | Skin Care |
| SW Basics (Sprout A Revolution) | N/A | Skin Care |
| Supergoop! | CircleUp | Skin Care |
| True Botanicals | Unilever Ventures | Skin Care |
| TULA | L Catterton | Skin Care |
| Yes To | Bridge Capital Holdings, San Francisco Equity Partners, Simon Equity Partners | Skin Care |
| Bulu Box | Dundee Venture Capital, Flyover Capital, Invest Nebraska | Vitamins & Supplements |
| Elysium Health | Breyer Capital, General Catalyst, Morningside Ventures, Sound Ventures | Vitamins & Supplements |
| HUM Nutrition | N/A | Vitamins & Supplements |
| KalibrateV | N/A | Vitamins & Supplements |
| Multiply Labs | Y Combinator | Vitamins & Supplements |
| Nootrobox | Andreessen Horowitz, Marissa Mayer, Mark Pincus | Vitamins & Supplements |
| Ritual | FF Angel, Forerunner Ventures, NEA, Norwest Venture Partners | Vitamins & Supplements |
| SmartyPants Vitamins | Collaborative Fund, North Castle Partners | Vitamins & Supplements |
| VitaFive | N/A | Vitamins & Supplements |
| Zenamins | ACE & Company, Y Combinator | Vitamins & Supplements |
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