Athena Club, a direct-to-consumer operation that sells skincare, wellness and vintage products, has raised $ 15 million in Series A funding.
The cycle was co-led by Cue Ball Capital, with participation from Shazi Visram, founder and CEO of Happy Nest; Stefanie Jay, Director of Business and Strategy for eBay, and Existing Seed Investors. So far, in total, Athena Club has raised $ 26 million.
Athena Club was relaunched in 2019 as an e-commerce operation with its own line of products. Customers set up subscriptions, with the ability to add more products to their order.
The company currently sells a $ 9 razor kit, $ 15 body wash, $ 12 deodorant, and other products. The products are made without ingredients like synthetic fragrances, aluminum, parabens, and triclosan, and the line has an ingredient glossary on its website to explain the ingredients that are found in its formulations.
Athena Club’s subscriber base grew by more than 2,000% in 2020, according to the company. Ultimately, the brand’s goal is to modernize the consumer packaged goods space and the drugstore shopping experience.
“We are building a one stop shop for everything that is essential for everyone. We are very focused on product quality, affordability and convenience, ”said Maria Markina, Co-CEO and Co-Founder.
With the funding, Athena Club plans to expand its user base, expand its product offering, improve the digital experience, and expand the team.
“We are building a modern digital pharmacy experience,” said Markina. “Overall, we are really striving to be the first digitally native CPG company.”
The company will expand into other categories, the founders said, and will seek to disrupt the markets that major CPG players currently dominate. “We really rely on our customers and our data to inform our decisions as we move forward, but a lot of these categories have been dominated by traditional companies often releasing the same product under a new brand, so we really want to tackle everything. which is someone’s routine. “said Markine.
Athena Club will work on personalizing the digital experience, noted Markina, and is also working on releasing refillable products. “Part of CPG’s future also lies in sustainability,” said Co-CEO Charles Desmarais. “We’re working on some really cool rechargeable concepts. “
For now, the company plans to continue selling direct to consumers.
“We don’t control the experience if we sell that much through Amazon – it’s a bit riskier. What if someone receives a fake product? Eventually, we would think about it, ”Desmarais said.
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