SoftBank Ventures Korea, has led a $2.1 million investment in Rael, a US-based menstrual care startup, along with other investors including Thrive Market, an e-commerce platform for natural and organic products, the company announced in a release.
The company will use the proceeds to improve the product, expand its team and overseas footprint.
Rael was established in 2017 to solve the problem of of lack of healthy, comfortable and high-performing menstrual care products.
“After months of research and development, we conducted an initial test on Amazon. The response was overwhelming,” said Yanghee Paik, co-founder and CEO at Rael.
Paik was a former distributor at The Walt Disney Studios with a Harvard MBA. She started Rael with two female co-founders, Aness An, a journalist and bestselling author, and Binna Won, an architect-turned-art-director.
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.
“For years, customers have been looking for an effective and affordable feminine care line that uses only clean ingredients. The Rael team has built a beautiful brand around exactly that,” said Nick Green, Founder and CEO at Thrive Market.
The brand has expanded its product line, including pads, panty liners, biodegradable tampons made with 100% certified organic cotton.
Period underwear, facial sheet masks, cleansing washes and wipes are also available on platforms of Amazon, other e-retailers as well as their own e-commerce site, GetRael.com. As of today, Rael’s products are available in UK, Germany, France, Italy, Spain, Japan and South Korea.
“Aness, Binna and Yanghee are visionary leaders who value women’s personal development and happiness,” said Edward Chung, Principal at SoftBank Ventures Korea.