Total amount raised
$177.7 Million
Latest funding date
02/01/2024
Location
quip has raised funding over 11 rounds, with the latest being a Venture - Series Unknown round. The company is backed by 32 investors, including Sand Hill Angels and Cowen Group.
Keep reading to explore the intricacies of quip's fundraising journey and the investors backing this innovative platform.
What Is quip?
quip is a private company based in Brooklyn, New York, specializing in the design and delivery of oral care products, advice, and services. The company operates in the dental, e-commerce, health care, and product design industries.
Founded with a mission to make oral care routines more enjoyable and effective, quip offers a range of award-winning products, including electric toothbrushes, flossers, and toothpaste. The company employs between 101-250 people and has made notable acquisitions, such as Toothpic and Afora Care.
How Much Funding Has quip Raised?
- Round Name: Angel
- Amount Raised: USD 550,000
- Date: July 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and product development.
- Round Name: Angel
- Amount Raised: USD 855,000
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand initial product offerings and market reach.
- Round Name: Debt Financing
- Amount Raised: USD 500,000
- Date: September 2016
- Lead Investors: Lighter Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and early-stage growth.
- Round Name: Series Unknown
- Amount Raised: Not publicly disclosed
- Date: November 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and market their product line.
- Round Name: Series A
- Amount Raised: USD 10,000,000
- Date: November 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand market presence.
- Round Name: Debt Financing
- Amount Raised: USD 10,000,000
- Date: May 2018
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth initiatives.
- Round Name: Series A
- Amount Raised: USD 40,000,000
- Date: November 2018
- Lead Investors: ACME Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market expansion.
- Round Name: Convertible Note
- Amount Raised: Not publicly disclosed
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide flexible financing for growth and development.
- Round Name: Series B
- Amount Raised: USD 100,000,000
- Date: August 2021
- Lead Investors: Cowen Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the consumer packaged goods business and expand globally.
- Round Name: Series Unknown
- Amount Raised: USD 15,500,003
- Date: February 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and new product development.
Total Amount Raised: USD 177,405,003. Current Valuation: Not publicly disclosed.
Key Investors
- Cowen Group
- Details: Cowen Group is a diversified financial services firm that provides investment banking, research, sales and trading, prime brokerage, and investment management services. Founded in 1918, the firm has a long history of supporting innovative companies.
- Investment Focus Areas: Healthcare, technology, consumer, and sustainability.
- Notable Investments: Not publicly disclosed.
- ACME Capital
- Details: ACME Capital is a venture capital firm that invests in early and growth-stage companies. The firm focuses on disruptive technologies and innovative business models.
- Investment Focus Areas: Technology, healthcare, consumer, and media.
- Notable Investments: Not publicly disclosed.
- Silicon Valley Bank
- Details: Silicon Valley Bank provides various financial services, including loans, treasury and cash management, and investment banking. The bank is known for its focus on technology and life sciences companies.
- Investment Focus Areas: Technology, life sciences, venture capital, and private equity.
- Notable Investments: Not publicly disclosed.
- Lighter Capital
- Details: Lighter Capital offers revenue-based financing to early-stage tech companies. The firm provides growth capital without requiring equity dilution.
- Investment Focus Areas: SaaS, technology, and software.
- Notable Investments: Not publicly disclosed.
- Sand Hill Angels
- Details: Sand Hill Angels is a group of Silicon Valley-based angel investors who provide capital and mentorship to early-stage startups. The group focuses on high-growth technology companies.
- Investment Focus Areas: Technology, healthcare, consumer products, and software.
- Notable Investments: Not publicly disclosed.
What's Next for quip?
quip stands at the cusp of significant growth opportunities. With a $100 million funding boost, the company is poised to scale its consumer packaged goods business, innovate in professional services, and expand globally. The oral healthcare market, valued at $450 billion, offers a vast playground for quip's ambitions. Their subscriber base, already over 7.5 million strong, is set to grow through enhanced ecommerce, retail, and partner channels.
Future fundraising seems likely as quip continues to innovate and expand. The company’s focus on sustainability, product innovation, and professional services could attract further investments. However, challenges such as maintaining product quality, navigating new markets, and managing global logistics will test quip's resilience. The competitive landscape and regulatory hurdles also pose significant challenges.
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