Ritual Vitamins has raised $10.5 million in Series A venture funding to attract talent, scale the business and build in-house technology for customer experience and support.
Ritual first launched as a Disrupt NY Battlefield 2016 contestant with interest and angel funding from Upfront Ventures, FF Angel, Rivet Ventures and Troy Carter. Ritual has since raised a total of $15.3 million.
Vitamins are a crowded space for sure. It’s even easier for anyone to start their own brand these days with white label manufacturing and the ease of setting up an online shop. However, Ritual CEO Katerina Schneider told me she started her company to offer women something better than what she was finding for herself.
Unlike the majority of vitamin brands, Ritual is backed by an in-house team of scientists and a medical board. It also says it only includes the supplements you actually need in a Standard American Diet (SAD) and leaves out the stuff we tend to already find in abundance in our foods.
The startup offers a 30-day supply of its vitamins made for women for $30 per month — a fairly reasonable price comparable to other vitamin makers with high-quality ingredients. Ritual maintains its ingredients are superior to competitors’ and open-sources where its ingredients come from on its website.
Founders Fund led this round, with returning investors Forerunner Ventures, Norwest Venture Partners and Upfront Ventures.
Ritual chose Founders Fund as the lead investor in this round based on its “history of investing in world-changing ideas, their approach to solving complex problems and their strong conviction,” Schneider said.
Published at Tue, 01 Aug 2017 23:20:43 +0000