The women’s subscription vitamin company Ritual announced Feb. 5 it has raised $25 million in Series B funding, which it plans to use to create an “iconic” pill.
“We are hoping to put a stake in the ground around women’s health in really reinventing the vitamin that every woman needs for every life stage,” said executive officer and founder Katerina Schneider.
The West Adams-based company will use the injection of funds to bolster its products offerings, extend its reach and expand its research and development team.
The two-year old vitamin company is entering a crowded field of dietary supplements but has sought to distinguish itself by offering a “clean” multi-vitamin for women, that’s free of GMOs and gluten and is vegan-friendly. The company currently offers a woman’s multi-vitamin and a woman’s prenatal vitamin. The vitamins are sold by subscription and shipping directly to customers.
Schneider, whose company has already raised $40.5 million, said Ritual is going “heavy into the investment in R & D” as it looks to add on to its offerings with a post-natal and post-menopausal product. It has a patent pending for how ingredients are encapsulated and has begun clinical trials with an undisclosed university.
The company recently hired Harvard-trained physiologist Nima Alamdari as chief scientific officer. Almadari formerly the directed scientific affairs at the Santa Monica-based Beachbody, a workout video provider.
Schneiders is also focusing on developing a more extensive e-commerce platform that will improve communications with “her and be where she is.”
Manufacturing, retail and trade reporter Rachel Uranga can be reached at firstname.lastname@example.org or (323) 549-5225 ext. 251. Follow her on Twitter @racheluranga
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Silicon Beach Report Aug. 1: Snap Inc. Excluded from S&P 500 Due to Non-Voting Shares
- 2016 Delivered $369 Million In Seed Investment
- Mattel Taps Former Disney Channel Exec to Helm TV Division
- Fashion Rental Site FashionPass Files Suit Against Rent the Runway
- Handbag Brand Hammitt Raises $2M
- Recruiting Platform Cluster Raises $1.9M With Plans to Expand
- Katherine Blair Named First Woman to Skechers Board
- Global Icons Takes Majority Stake in Fred Segal