Flaus snags $2M for electric floss
Flaus, an oral beauty brand, has closed a $2 million seed round to bring electric floss to the market, CEO Samantha Coxe tells Axios exclusively.
Why it matters: Health and wellness, and beauty in particular, have become active investment areas on the back of growing consumer interest.
Details: The round was led by Yeti Capital, an investment vehicle formed by the founders of Yeti Holdings.
- Greenlight Ventures and Halo Top ice cream co-founder Doug Bouton participated.
- Flaus garnered $2 million in a family and friends round as well, bringing its funding total to $4 million.
- The funds will give it about 18 to 24 months of runway, Coxe says.
How it works: Flaus' sustainable electric flosser uses recycled plastic heads and a sleek ergonomic handle to make flossing as easy as using an electric toothbrush.
- This "is a white space that exists where customers can pamper, accessorize and invest in their smiles and their teeth as much as their skin, nail and hair," Coxe says.
What's next: Flaus' products will roll out on Amazon in Q1 and it has plans in Q4 of next year to launch a kid's line.
- The kid's version is "a really ripe opportunity," Coxe says, because you can do licensing and distribution with the likes of Disney or Nickelodeon or Cocomelon, further unlocking another sales channel.
- Further down the road, she hopes to combine an electric flosser and a toothbrush into one product for a seamless, efficient, portable experience.
- The funds will go toward inventory, fulfilling retail orders and doing clinical trials, Coxe says.
- The company plans to reach profitability by March of next year.
What we're watching: Depending on the overall fundraising climate, the company hopes to kick off its Series A with a target of at least $3 million to $6 million around December of next year.
- That additional capital "will really go towards our expansion efforts of eventually going into big box retail with Target and Sephora and things like that," Coxe says.
- It will also go toward national distribution, innovation in its product lines and developing tech features such as habit tracking and gamification.
The big picture: "My vision for Flaus this entire time has been setting us up for an M&A success," Coxe says. "We would be a perfect portfolio company for a Procter & Gamble or Unilever."