DollarShaveClub.com Raises $1M in Seed Funding
DollarShaveClub.com, a Los Angeles, CA-based new membership service delivering shave razors to its members, has launched its private beta with $1m in seed funding.
The round was co-led by Kleiner Perkins Caufield & Byers and Forerunner Ventures, with participation from Andreessen Horowitz, Shasta Ventures, Felicis Ventures, White Star Capital, Shervin Pishevar, Dennis Phelps, and David Honig.
Led by CEO Michael Dubin, DollarShaveClub.com offers members regular monthly razor shipments.
The company, backed by technology studio Science, Inc. http://science-inc.com/, delivers razors equipped with stainless steel blades, lubrication strips and a pivoting head. At launch, members will be able to choose from three signature razors:
-The Humble Twin: a standard two-blade razor ($1/month, plus s+h)
-The 4x: a four-blade razor perfect for men’s or women’s hair removal needs ($6/month, shipping included)
-The Executive: a state-of-the-art six-blade razor ($9/month, shipping included)
The company plans to expand soon to offer a suite of grooming products for men and women.