The Venture Codex

Participated · Seed · Apr 2022

Launched in 2020, Bach offers an iOS and Android app that helps groups discover, plan and book trips end-to-end. Users can invite friends, chat, decide on locations based on costs and interests, assemble itineraries, and track expenses with an expense-splitting feature. The app also includes a curated marketplace of local experiences bookable through the platform. Bach currently provides experiences in major U.S. destinations such as Scottsdale, Nashville and Las Vegas and plans to be available in 30 cities by the end of Q1 2023. The company is approaching 500,000 parties planned and two million users, and has doubled bookable experiences from 800 to over 1,600 with a target of 3,000 in 2023. Bach is launching a web marketplace next month and aims to use recent funding to make strategic hires and expand the platform beyond bachelorette parties. Bach is a NYC-based marketplace and iOS app for bachelor and bachelorette trips that lets groups discover, decide, and plan in one place. The platform includes group chat, expense splitting, polling, and itinerary creation, and enables booking by integrating with local providers. Offerings bookable through the app range from private chefs and Instagram mural tours to goat yoga, ATV excursions, party buses and yacht charters. The company is led by CEO Mike Petrakis and COO Sarah Sprague. Bach raised USD8M in funding and Corazon Capital partner Phil Schwarz has joined the company’s board. The company intends to use the funds to expand operations and its business reach. BACH is a mobile-first platform that centralizes planning and booking tools for bachelor and bachelorette parties, offering shared itineraries, group chat, polls, expense-splitting, and a marketplace of bookable local experiences. Founder Mike Petrakis began building the product in 2019, launching just before the COVID-19 pandemic and rereleasing the app in January 2021. In its first few months in 2020 the app saw 100,000 users, and traffic grew tenfold after the 2021 rerelease. The product is built with React and React Native on the frontend and JavaScript/Node.js on the backend; it currently exists only as an app with a desktop version likely coming. BACH has about 20 full-time employees, operates mostly remotely with several staff in the Philadelphia area, and occasionally uses Fitler Club’s Offsite coworking space for in-person work. The company has raised $4 million in seed funding since origination and is raising to expand the team and address supply-side challenges as it pursues becoming a leading platform for group travel.

Participated · Seed · Apr 2022

Elevent operates a marketplace and platform that connects experience providers and companies to deliver unique virtual and physical events designed to build trust and connections. The product supports team bonding, client engagement, remote celebrations, and rewards, and aims to make booking, hosting, and managing live events more efficient for business event planners. The company emphasizes data and ROI measurement for events, claiming to provide access to previously unavailable analytics to help clients measure event ROI. Elevent reports substantial usage: over 3,000 events booked and completed in the past six months, work with more than 2,000 companies and 300 hosts, and nearly 100,000 event participants. Future plans in the announcement include expanding domestically and internationally, growing the engineering and product teams to accelerate platform buildout and automation for customer self-service, and expanding in-person events.

Participated · Seed · Nov 2021

Goodles produces plant-forward noodle products—mac and three pasta styles—using plant proteins, fiber and added nutrients with over 10 mac flavors and Clean Label Certification. Its products are sold direct-to-consumer and at national retailers including Target, Whole Foods Market, Publix, HEB, Wegman’s and Sprouts Markets. The company reports distribution in over 35,000 retail points nationwide. Founders are CEO Jen Zeszut and Paul Earle; the founding team includes Chief Product Officer Molly Michet, Chief Impact Officer Deb Luster, and Founding Partner Gal Gadot. Goodles plans to use recent funding to add three C‑suite executives and to expand U.S. production capacity to meet growing consumer demand. Goodles is a macaroni-and-cheese brand from Gooder Foods offering an adult-focused, healthier take on dry noodles. The product is high in protein and fiber and contains 21 nutrients from organic vegetables, launching with four SKUs: Mover & Shaker, Cheddy Mac, Shella Good, and Twist My Parm. The company built an online community during the pandemic, shipping thousands of sample bags and iterating through more than 1,000 noodle versions; testing showed 92% of respondents would switch to Goodles. Goodles is positioning itself against incumbents Kraft and Annie’s by emphasizing improved taste and nutrition. Gooder Foods raised $6.4 million to fund a direct-to-consumer launch, inventory, branding and marketing, with plans for national distribution.

Participated · Seed · May 2021

Prima is a science-led, holistic wellness brand and Public Benefit Corporation that leverages functionally innovative botanicals. The company develops botanicals-based wellness products and has national retail partnerships with Sephora and Nordstrom. Prima is privately held and based in Santa Monica, California. It expects to expand distribution to over 800 new retail stores in 2021. The company will use recent funding to support retail expansion, remedy-focused clinical research, portfolio refinement and education initiatives as it pursues a path to profitability. Leadership includes Christopher Gavigan (CEO), Jessica Assaf (Co-Founder and Chief Education Officer) and Laurel Angelica Myers (Co-Founder and COO). Prima, co-founded by Christopher Gavigan with Jessica Assaf and Laurel Angelica Myers, is developing a line of hemp-cannabinoid products including topical beauty and pain-management creams, a luxurious facial oil, and ingestible products like soft gels and mix-in powdered blends for immunity, sleep, and energy. The company sources organically grown hemp from Oregon and says it uses a slow, gentle extraction process to produce oils and distillates for its formulations. Prima plans to sell direct-to-consumer via a content-rich site designed to educate customers. Products are not yet available for sale and packaging is still undecided. Prima is registered as a public benefit corporation and intends to direct some profits or resources toward cannabis-related research initiatives. The company faces regulatory uncertainty around CBD in food and drink following FDA guidance and local health-department actions in cities such as New York and Los Angeles.

Participated · Series C · Apr 2021

Willow is a Mountain View, California–based FemTech company that makes the Willow Wearable Breast Pump, an in-bra, fully spill-proof wearable breast pump. Led by CEO Laura Chambers, the device eliminates tubes, cords and dangling bottles and is designed to allow mothers to pump quietly and move freely. The company raised an additional $26.8M in a Series C extension, bringing its total Series C investment to $81.8M. Willow intends to use the funds to invest in new products, expand its international presence and grow brand awareness. The funding is intended to support further product development and broader market reach. Willow builds a wearable, mobile breast pump designed to make pumping more efficient, comfortable, and discreet. The company reported increased sales in 2020 and installed Laura Chambers (formerly of eBay and Airbnb) as CEO. With new capital, Willow plans to expand its product line beyond the breast pump and to develop additional hardware and software to support mothers. Management expects to bring new products to market in 2021 and to expand its footprint into international markets. Willow has raised $155 million to date, placing it among the upper echelon of women’s health investments. Frost & Sullivan estimates the femtech market at just over $1 billion with a 12.9% growth rate, providing market context for the company’s opportunity. Willow is a Mountain View, Calif.-based developer of an in-bra wearable breast pump. Led by President and CEO Naomi Kelman, the company offers quiet wearable pumps that leverage patented technology to mimic a baby’s continuous suction and tuck discreetly into a bra without cords, dangling bottles or loud noises. The company recently launched Container, which gives mothers the option to pump and pour with the Container or pump and store with spill-proof Milk Bags. Willow raised an additional $20M in funding, bringing total capital raised to date to $100M. The company intends to use the funds to accelerate product development and further expand into retail, insurance and international channels.