Maude, a female-founded and led sexual wellness startup, has recently closed a successful Series A funding round to bring its total funding up to more than $10 million.
The startup announced on Tuesday that it raised $5.8 in the Serie A round led by True Beauty Ventures. Cristina Nuñez of True Beauty Ventures will be joining the all-female and majority Latina board.
Maude aims to boost change in how people all around the world approach sex-related products, making them commonplace in the bedroom.
Maude’s founder and CEO, Éva Goicochea, referred to this mission by comparing his startup to California based outdoor clothing company Patagonia:
“They’re selling a product, but they’re simultaneously committing to change how we all think even if we don’t own the product. We’ve long said we’re t-shirt sex.”
The series A funding round not only brought the sexual wellness startup’s total funding to over $10 million, but it also made it the first company selling sex-related products to make it past the seed stage in the last 5 years. Maude surpassed the last startup, Crave, to do so back in 213 by over 3.4 million.
Back in 2020, Maude made its intention to enter the mainstream market with the support of “Fifty Shades of Grey” star, Dakota Johnson. The actress signed with Maude to act as a co-creative director, boosting the startup’s notoriety in the space.
Maude has also reported growth of over 200% year-over-year, as well as annual revenues in the mid-to-high seven figures, which is possible due to the increasing interest and open-mindedness of the new generations when it comes to sex.
Thomas Buisson, Fable’s Paris-based Director, believes that “Sexual wellness does deliver in the same way as good food or good sleep”, also stating that the investment in the startup was just the continuation of what Fable Investments has been doing in the past.
According to a Forbes report, the sexual wellness space represents an opportunity of $125 billion, which will allow the sexual wellness startup to capitalize on the growing industry.
