US-based menstrual care startup Rael has announced the closing of a $17.5-million Series A funding round led by Mirae Asset and GS Retail Fund, South Korea’s largest asset manager and retail conglomerate.
The round was also joined by a group of new investors including Pritzker Group Venture Capital and NYX Cosmetics founder Toni Ko, as well as existing investors SoftBank Ventures Korea and BAM Ventures, according to a company statement.
Rael is led by three female co-founders: Aness An, a journalist and bestselling author; Binna Won, an architect-turned-art-director; and Yanghee Paik, a former movie distributor at The Walt Disney Studios with a Harvard MBA.
The trio established the company in 2017 to solve the problem of lack of healthy, comfortable and high-performing menstrual care products
Rael raised its pre-Series A funding round just five months ago, securing a $2.1 million investment led by SoftBank Ventures Korea. The California-based startup has previously raised seed financing from investors including Spigen, an Amazon top 5 seller, BAM Ventures, Strong Ventures, a seed fund based in California, and Primer, a startup accelerator in South Korea.
Following the funding in May, the company expanded its offering with a line of “Period Beauty” items which include an assortment of facial sheet masks and acne healing patches which help alleviate hormonal skin issues that inconveniently occur during menstruation.
Today, Rael’s product line includes organic cotton pads and panty liners, both #1 Amazon Best Sellers in their respective categories, and biodegradable cardboard and non-applicator tampons.
The company said the latest funding will be used for global expansion, as well to finance plans to grow their DTC site, GetRael.com and also exploring partnerships with major brick-and-mortar retailers.