NEW YORK–(BUSINESS WIRE)–Dame, the sexual wellness company on a mission to close the pleasure gap by creating products for pleasure, today announces a $7 million Series A funding round led by Amboy Street Ventures, with participation from Listen Ventures, Flybridge, Echo, and Forest Road Company bringing Dame’s total capital raised to $13 million. With this funding, the company is also announcing a Dame-quality vibe at a more accessible price point – Dip, an unintimidating, inclusive entry point to pleasure for people who are in the early stages of their sexual wellness journey. Priced at $49, Dip will be available for purchase on October 12, 2022 on dameproducts.com.
This announcement comes on the heels of Dame’s momentum in the cultural zeitgeist over the past year, which has been driven by initiatives like launching several new products, settling with the NYC MTA to run ads on the subway, helping launch Sephora’s Intimate Care category, and introducing a Clinical Board to further push the narrative that sexual health is a key factor to overall wellness and provide credibility in the space, to name a few.
The funding will be used to fuel the company’s focus on maintaining a loyal customer base and exploring new categories for a broader audience with more accessible and replenishable products, and to continue evolving its retail presence. Currently, Dame is carried by Sephora, Bloomingdales, Nordstrom, and Free People, amongst others. Dame has doubled its wholesale business each year for the past two years, with 20% of consumers hearing about the brand through its retail partners.
“Dame is bringing the sexual wellness category into the mainstream by plowing through industry-wide hurdles,” says Carli Sapir, Founding Partner of Amboy Street Ventures. “Sexual pleasure and wellbeing is arguably the most stigmatized subset of our space – and when that stigma is removed from sexual health and women’s health; research, funding, and solutions will pour into this underserved area. Dame is unapologetically dismantling shame around sexual wellness and, in doing so, has found incredible product market fit.”
Dame’s Series A funding round showcases the appetite and potential in the sexual wellness market, which is expected to reach $125.1 billion by 2026. Under the leadership of CEO Alexandra Fine, Dame has secured this round when venture financing has fallen significantly across the board – especially for female founders.
“The sexual wellness market is growing by the day, which is amazing to see given the resistance we’ve seen in past years,” says Alexandra Fine, Founder and CEO of Dame. “We are so proud to be a part of an encouraging intimacy movement, and our hope is that our newest product, Dip, will open that door for even more people to get in touch with themselves.”
With this injection of capital and product expansion, Dame continues its work to normalize and champion pleasure as a part of overall wellness. With steady online 100% year-over-year e-commerce growth, Dame is looking to expand to provide more touchpoints, from investing in educational content with its Clinical Board to furthering its retail presence, and prioritizing customer retention to create a lasting community.
To learn more about Dame, please visit: www.dameproducts.com
Dame is leading a sexual wellness revolution as a women-powered resource for game-changing products for pleasure and supportive content. Through in-depth research, smart design, community input, and plenty of empathy, the Dame team has designed a line of exceptional tools to enhance sexual wellness for vulva-havers and their partners everywhere. Dame is not only revolutionizing toys for sex, but changing the way we experience, understand, and explore sexuality as part of holistic wellbeing. Since 2014, the team has opened doors that have long been closed to the sexuality industry, becoming a key player in the movement to bring pleasure to the forefront of wellness. For more information, visit www.dameproducts.com