Sexual Wellness Brand Maude Raises $5.8M Series A
Maude, a modern and inclusive sexual wellness company, has raised a $5.8 million Series A round.
The fundraiser was led by True Beauty Ventures with participation from U.K. consumer fund True, media company William Morris Endeavor and Fable Investments, the venture fund of Natura & Co. Since its launch in April 2018, Maude has raised more than $10 million in capital. Dakota Johnson of the “50 Shades of Grey” franchise is an investor, and joined the team as co-creative director in 2020.
With this raise, Maude’s board will be all female and majority Latina — Cristina Nuñez of True Beauty Ventures and Paola Felipak of Fable are both joining.
“Maude is a category leader with a clear mission to democratize and destigmatize an antiquated view of sex while reframing intimacy as self care,” said Nuñez in a statement. “Éva [Goicochea] is a visionary, fearless founder who has innovatively bridged the gap between sex, health and personal care through a thoughtful product offering that has redefined the meaning of modern intimacy for the consumer.”
The brand, which expects to become profitable in 2022, has previously been funded by RRE, Cassius, Tune House Capital, Outbound Ventures, Vice Ventures and Patina Brands.
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Maude sells an assortment of condoms, lubricants, vibrators, candles, bubble bath, massage oil and body washes, ranging from $10 to $114 for a multiproduct kit. In 2021, the brand launched a new all-body massager, as well as a range of new scents for their body washes and candles. Goicochea noted her goal for the brand has always been to destigmatize sexual well-being.
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“Sexual wellness has long been the last frontier in personal care, but the customer expects better,” Goicochea said in a statement. “Like in beauty, we believe in taking an integrated and holistic approach — not a compartmentalized view of sex. At our core, we’re an evergreen brand thoughtfully built for the every day of your entire adult life.”
Goicochea plans to use the new capital to expand Maude and the brand’s message. The company recently hired two new employees, making it a team of nine, with plans to hire more this year. Funding will also be allocated toward expanding the product line, marketing and the brand’s educational content on their site. Maude’s offerings will remain in the sexual wellness category.
Goicochea said her ultimate goal is to pave the way for the sexual wellness category and make modern intimacy products more accessible as a daily wellness product. “It’s a part of our everyday existence,” Goicochea said. “I really want people to feel like they don’t have to compartmentalize the category anymore.”
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