Participated · Series A · Feb 2020

BRAVO SIERRA develops clean, high-performance personal care products designed with and for the U.S. military community. Its formulas are paraben-free, sulfate-free, phthalate-free, phenoxyethanol-free, vegan, cruelty-free and made in the USA. The brand operates a proprietary community called BATTALION of roughly 2,500 Special Operations, active service members and veterans who field-test products, and it donates 5% of sales through a partnership with Department of Defense military exchanges. Since launching in 2019 the company says revenue has doubled year-over-year, it has amassed more than 10,000 five-star reviews, and its deodorant reached #8 on Amazon after six months. Products are sold across military exchanges and nationwide at Walmart, Target, Amazon, HEB, GNC, Ulta and bravosierra.com. The company has surpassed six-figure contributions to the DoD exchanges and positions itself for further retail and product innovation growth. Bravo Sierra is a NYC-based non-traditional defense contractor that engineers performance consumer products for military and civilian patrons. The company launched personal care products exclusively within the Department of Defense’s Army, Air Force, Navy and Marine Corps exchanges globally. It has developed a proprietary software platform that enables field testing by over 1,000 U.S. active duty service members, allowing product development iteration based on real-time feedback. Led by co-CEOs Justin Guilbert and Benjamin Bernet, Bravo Sierra focuses on performance-focused personal care and is expanding product development into new categories. The company plans to use the new capital to launch omni-channel distribution, accelerate product development into new categories, and deploy its social manufacturing technology platform at scale. It closed a $12M Series A to fund these strategic initiatives.

Participated · Series B · Jan 2019

Vengo Labs is a NYC-based retail tech company that builds digital kiosks serving consumer packaged goods and advertisements, combining online shopping with instant access to products. Its kiosks are deployed across college campuses, gyms, hotels and other venues, with more than 1,000 units in the field. The company plans to expand its network fourfold in 2019 to reach over 100 million consumers per month. Vengo will use its new capital to scale presence in colleges and gyms and to begin testing new applications, initially targeting the beauty industry. Led by co-founders Brian Shimmerlik and Steven Bofill, Vengo says bringing Arcade Beauty and SPINS on board provides strategic CPG expertise to accelerate growth. Financially, the company completed a $7M Series B which will support its planned expansion and product testing. Vengo (Vengo Labs) develops compact, touchscreen digital vending machines deployed in hotels, gyms, college campuses and other venues nationwide. The units sell convenience items like phone chargers and snacks while providing advertising and data-collection capabilities. The founders trace the concept to 2012 and grew the business from a NYC Next Idea prize into a funded startup. The company has about 12 employees and plans to use new funding to scale production—building roughly 550 machines this year with demand likely to push that higher. Earlier strategic investors include Gary Vaynerchuk, Tony Hsieh, David Tisch, Brad Feld and Nas. Currently the founders are working with Shark Tank investors on a deal to finance further production. Vengo Labs builds glass-front mini vending machines that sell consumer items while serving digital advertisements on the machine face. The company reports revenues split approximately 50/50 between product sales and advertising and records about 280,000 active consumer engagements per month across roughly 60 machines in NYC. Brands including Uber and Mondelez have run promotions on Vengo’s platform, which it positions as an interactive point-of-purchase media channel. Vengo manages design, software and remote operation, and has partnered with CC Vending to handle logistics and fulfillment. The product began as an ancillary project to TaxiTreats; the team is pursuing expansion into new cities and product verticals, testing ideas like Bitcoin ATMs and planned installs in buses and taxis, and is seeking international partners (including a Berlin pop-up). Vengo makes compact touchscreen vending machines that dispense convenience products such as gum, mints, hand sanitizer, lotions, body spray and condoms; each machine holds six SKUs and up to 100 items. Machines accept credit-card payments only and are designed for installation in bars' bathrooms, hallways near restrooms, office buildings by elevators and similar indoor locations; two units are already live in FunBars locations. The company began as TaxiTreats, testing vehicle-mounted units in NYC taxis, but those remain in mobility testing due to engineering challenges, prompting a shift to slightly larger, stationary machines. Vengo provides and installs machines for free at select locations and splits revenue with location partners, though it declined to disclose specific revenue numbers or manufacturing costs. Machines are built in the tri-state area, and the new investor group includes partners with consumer manufacturing, distribution and brand relationships to aid scaling. Future plans include experimenting with additional beauty or tech products and deploying TaxiTreats units with transportation partners once mobility testing is complete.

Participated · Series C · Jun 2018

Parachute offers premium, responsibly manufactured bedding, bath, table linens and home decor using European-sourced materials. The company sells its textile assortment directly to consumers online and through a network of company-owned stores. Parachute was founded by Ariel Kaye in 2014 and is based in Venice, CA. At the time of the article it operated three stores in Venice Beach (CA), Portland (OR) and New York (NY). The company intends to use recent funding to accelerate retail expansion, drive product innovation and category expansion, and make strategic investments in marketing, technology and supply chain. Parachute Home sells high-quality bed linens direct-to-consumer via its website, sourcing production from an 80-year-old family-run textile factory in Italy. Founded in 2013 by Ariel Kaye, the company positions itself as a "luxury bedding basics" brand with sheet sets starting at $89. By cutting out middlemen and avoiding retail slotting and licensing fees, Parachute aims to offer lower prices than traditional brick-and-mortar luxury sets. The company leverages content marketing and a blog focused on sleep tips and related content as part of its growth strategy. Financially, Parachute reported approximately $1 million in website sales last year. Recently the company announced $3.8 million in new venture funding to support its direct-to-consumer expansion and operations.

Participated · Series A · Jun 2016

Primary, founded in 2015 by Christina Carbonell and Galyn Bernard, is an online retailer focused on inclusive, label-free cotton clothing for children. The brand was created in response to gender-prescriptive options in kids' apparel and emphasizes simple, logo-free basics. Primary plans to expand into footwear and adult clothing lines and to test physical retail locations. The company reported $30 million in revenue last year. With the new funding round, Primary aims to support product-line expansion and retail experimentation. Leadership additions include former BuzzFeed and Etsy executive Cap Watkins and Harvard Business School professor and former Uber SVP Frances Frei joining the board. Primary, co-founded by Christina Carbonell and Galyn Bernard, operates an ecommerce platform for children's essential apparel from New York, NY. The company sells basics such as leggings, T-shirts and sweatshirts. Products are cotton-made, colorful, free from adornments and priced under $25. Primary focuses on simple, staple pieces for kids rather than decorative clothing. The company raised institutional funding to support growth and plans to use capital to continue expanding operations. Primary is an online retailer focused on selling evergreen kids’ clothing basics—solid-color polos, hoodies, dresses and other staples—at accessible price points. The site launched with 31 styles covering babies through size 10 and positions itself as a complement to more fashion-forward brands. Prices are all under $25, with items made in India using higher-quality fabrics such as Pima cotton. The founders are former Quidsi executives Galyn Bernard and Christina Carbonell; the company operates a nine-person team and emphasizes a streamlined user experience with features like smart order history and one-click size changes. Primary promises three-day shipping within the continental U.S., free shipping over $50 (with an initial promotion waiving the fee for the first year), and plans to keep the assortment focused on classics while possibly adding simple patterns in time. The company cites the $30 billion kids’ clothing market and average parental spend of $1,000 per child per year as market rationale for its DTC essentials approach.