Total amount raised
$20.3 Millions
Latest funding date
03/01/2023
Location
Mad Rabbit has successfully raised funding through multiple rounds, with the latest being a Series A round in March 2023. The company is backed by notable investors, including LB Equity and Acronym Venture Capital.
Mad Rabbit specializes in tattoo aftercare products, offering a range of items such as balms, gels, lotions, and sunscreens. Keep reading to explore the intricacies of Mad Rabbit's fundraising journey and the investors backing this innovative platform.
What Is Mad Rabbit?
Mad Rabbit, founded in 2019 by Oliver Zak and Selom Agbitor, is a Los Angeles-based company specializing in tattoo aftercare products. The company operates within the consumer goods, cosmetics, and retail industries.
With a small team of 1-10 employees, Mad Rabbit offers a range of natural products designed for skin and tattoo maintenance. Their product line includes Tattoo Balm, Soothing Gel, Daily Lotion, SPF 30 Tattoo Sunscreen, Numbing Cream, and Tattoo Repair Patch.
How Much Funding Has Mad Rabbit Raised?
- Pre-Seed Round
- Amount Raised: $500K
- Date: September 2020
- Lead Investors: Mark Cuban
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the business and develop initial product offerings.
- Seed Round
- Amount Raised: $2M
- Date: July 2021
- Lead Investors: Acronym Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product lines and increase market presence.
- Seed Round
- Amount Raised: $4M
- Date: February 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance marketing efforts.
- Venture Round
- Amount Raised: $3.8M
- Date: December 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and product development.
- Series A Round
- Amount Raised: $10M
- Date: March 2023
- Lead Investors: LB Equity, Acronym Venture Capital
- Valuation at Round: $56M
- Motivation Behind the Round: To expand product line, increase marketing efforts, and grow the team.
Total Amount Raised: $20.3M. Current Valuation: $56M.
Key Investors
- Lucas Brand Equity
- Details: Lucas Brand Equity is a private equity firm that focuses on investing in consumer brands. Ian Knowles, a partner at Lucas Brand Equity, has joined the Board of Mad Rabbit.
- Investment Focus Areas: Consumer brands, growth potential, innovative products.
- Notable Investments: Not specified.
- Mark Cuban
- Details: Mark Cuban is a well-known entrepreneur and investor, owner of the Dallas Mavericks, and a "shark" on the TV show "Shark Tank." He previously invested in Mad Rabbit during their appearance on "Shark Tank."
- Investment Focus Areas: Technology, consumer products, startups.
- Notable Investments: Magnolia Pictures, AXS TV, various startups featured on "Shark Tank."
- Acronym Venture Capital
- Details: Acronym Venture Capital is a venture capital firm that invests in early-stage companies. They participated in the Series A funding round for Mad Rabbit.
- Investment Focus Areas: Technology, consumer products, innovative startups.
- Notable Investments: Not specified.
- H Venture Partners
- Details: H Venture Partners is a venture capital firm that focuses on investing in consumer brands. They participated in the Series A funding round for Mad Rabbit.
- Investment Focus Areas: Consumer brands, sustainability, innovation.
- Notable Investments: Not specified.
- LB Equity
- Details: LB Equity is a private equity firm that invests in consumer brands. They led the Series A funding round for Mad Rabbit.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
What's Next for Mad Rabbit?
Mad Rabbit is poised for significant growth, driven by the expansion of its product line and increased marketing efforts. With a recent $10 million Series A funding round, the company is well-positioned to capitalize on the growing interest in specialized skincare products and environmentally-conscious offerings.
Future fundraising opportunities seem promising, given the involvement of high-profile investors like Mark Cuban and the company's rapid growth. This financial backing could pave the way for additional funding rounds, enabling Mad Rabbit to scale its operations further and enhance its market presence.
However, challenges such as maintaining product quality and navigating supply chain complexities could pose hurdles. As the company scales, it will need to manage competition in the tattoo care market and ensure customer satisfaction remains high.
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