Financial News
EBY - The Authority in Seamless Underwear - Announces $6 Million in Series A Funding and the Launch of their Limited Edition Seamless Luxe Collection
--News Direct--
Women’s empowerment & tech apparel company EBY announces today that they have raised $6M in Series A funding. Co-Founded by entrepreneur Renata M. Black in 2018, EBY is the ‘authority in seamless underwear’ - utilizing uniquely applied no-slip-grip technology to their seamless panties and bralettes. The direct-to-consumer brand also works to enable women to support other women with the one decision they make every morning - the underwear they decide to wear. 10% of proceeds from EBY underwear sales go to the Seven Bar Foundation to empower women through microfinance: small business loans to women in poverty that lead to incredible outcomes.
Colt Ventures, a Dallas based investment firm, led the company’s $6M Series A financing. Colt is a diversified firm that is active in biotechnology, oil & gas, technology, consumer/retail, special situations, and real estate. The firm has a long track record of successful exits and has made notable investments in e-commerce food delivery company Deliveroo, online video platform Rumble, and marketing automation platform Eloqua.
"Now more than ever, we are excited to invest in a female led company such as EBY that is bursting with market potential and has a notable social mission to support women globally. Just like Colt Ventures, EBY is laser focused on the future. We were highly impressed with Renata’s bold vision and the business she has built to date. We are excited to support her as the company enters its next growth phase.” - Sundeep Agrawal M.D., General Partner
EBY’s fast growth has garnered investment from other notable investors including Silicon Valley venture capitalist firm Azure Capital (which boasts a portfolio that comprises of Native Deodorants, Bouqs and Sleep 8), Robert DiRomualdo (Chairman of Ulta Beauty), Ken Goldman (former CFO of Yahoo), and Duncan Neiderauer (former CEO of the New York Stock Exchange).
EBY plans to use the funding to open new channels, make key new hires, and expand their influencer marketing efforts to support their rapid growth, which has seen 10,000 5-star customer reviews in under three years. They will be launching several new product lines over the rest of 2021, including their Limited Edition Seamless Luxe Collection, launching today - ultra-comfortable, premium seamless panty and bralette sets ranging from $21-$69. Seamless Luxe pieces will be available in two, limited edition colorways: Sakura - a beautiful hand-painted floral print, and Roseata Fleur - a luxury, lilac-like purple. The print was created in partnership with emerging graphic artist Laura Matson, in keeping with EBY’s mission of empowering women in business. In addition to the Seamless Luxe Collection, EBY will launch additional premium collections, a period underwear, and a mesh collection throughout the rest of the year.
Body-inclusive EBY offers seamless underwear in sizes XS-4XL, servicing over 100 million plus-size customers who cannot shop at some of the largest retail stores in the U.S. Its flocking technology acts as a second skin and has garnered EBY with a reputation as a best-in-class seamless product. EBY’s membership program also offers consumers an underwear subscription box with exclusive product and members-only pricing. The company’s core mission is female empowerment - not only through their offerings to their loyal subscribers and shoppers, but also by supporting women in poverty through the power of microfinance. By the end of this year, EBY will have impacted over 15,000 women and children out of poverty into business.
“EBY is in a unique place in a competitive market as an all-size inclusive, tech-commerce brand with a social mandate. It’s not just about revenue and growth, it's about impact and creating lasting relationships with our customers.” - Renata M. Black, Co-Founder
Prices for the Seamless Luxe Collection range from $21-$69
For more information on EBY, please visit https://shop.join-eby.com.
Contact Details
Amber Cardullo
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/eby-the-authority-in-seamless-underwear-announces-6-million-in-series-a-funding-and-the-launch-of-their-limited-edition-seamless-luxe-collection-172873993
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