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Dame Products Expands Sexual Care Product After $7M Raise • Technology Flow

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Sexual wellness company Dame Products is targeting a new price point audience after raising $7 million in new Series A funding.

The New York-based company launched the Dip Vibrator on Oct. 12, describing it as a “non-threatening, inclusive entry point that brings pleasure to people early in their romantic health journey.” The dip costs $49, which is about $50 less than Dame products.

Dame was founded in 2014 by CEO Alexandra Fine, who originally wanted to be a sex therapist. She launched the company with $575,000 from an Indiegogo campaign and turned Dame into a profitable business that was bootstrapped by December 2020. During that time Fine raised $4 million to expand the team and product line.

Speaking to Fine Technology Flow, Dame is known for its products aimed at “innovations for sexual well-being by real people”. The company offers about 30 different items, from traditional vibrators to gummies to serums.

“About 40% of our products are not vibrators and we have been able to expand through some tried and true processes tailored to the product type; We work with consumers to make something they think is good,” added Fine. “The new funding will enable us to continue to expand our product line with Dip, especially our refillables, make more product innovations and add to our content and community.”

Since the seed round, the company has launched several new products including gummies; New York settled with the Metropolitan Transportation Authority to display ads on the subway; And moved into Sephora and started its clinical board focused on sexual health. In addition to direct-to-consumer and Sephora, Dame is carried by other retailers such as Bloomingdale’s, Nordstrom and Free People.

Meanwhile, Dame has doubled revenue, customers and employees every year for the past two years, Fine said. With the sexual care market expected to reach $125.1 billion by 2026, Fine wants to grow faster and stronger, so DAM closed this new round of funding, a $7 million Series A, earlier this month.

The investment is led by Amboy Street Ventures in partnership with Listen Ventures, Flybridge, Echo and Forest Road Company. Dame has now raised a total of $13 million.

Carly Sapir, a founding partner at Amboy Street Ventures, told Technology Flow that the firm’s thesis is on sexual health and women’s health, and that it invests in companies like Dame that denigrate those two spaces. We’ve seen other companies do this too, including Cake and Enjoy.

“We’re seeing a shift away, overall, especially as mainstream retail opens its doors to the dam,” Sapir added. “Startups are coming into this space and growing, because of the barriers Dam has lowered for the rest of the industry.”

Next, Fine focused on investing in customer retention, educational content through Dam’s clinical board, and growing the company’s retail presence.

“It’s important to be authentic and do what’s best for us,” she says. “We’re trying not to get too caught up in what everyone else is doing. We do not hesitate to believe that happiness is healthy.

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