Featured Founder: August 2022
ATTN: Grace
Executive Summary:
Attn: Grace (read as Attention to Grace) is a B2C business that sells urinary incontinence and female hygiene products. The business is a public benefit corporation and was initially incorporated in 2017.
Their mission:
“At Attn: Grace, we believe in a world where women are seen and celebrated as we age, that personal care should actually be personal; and that while our needs may change over time, our standards only get higher.” [Source: Attn: Grace via Republic]
Their Value Proposition
Attn: Grace has developed a patented CLN Design™ technology to create the first-ever line of liners, pads, briefs, and wipes that replace the plastics, petroleum, and other toxins found in conventional products with a green PE (polyethylene) made from gentle, upcycled sugar cane waste. [Source: Attn: Grace via Republic]
Why we like Attn: Grace:
This bio-based, skin-safe line of women's incontinence products solves a problem that we feel is overlooked and that our New Majority investors will see as an underserved market in need of an elegant solution
Launched national distribution in 2020 with a 10K person waiting list
71K packages of Pads and Briefs sold via their website and Amazon
5X’d revenue in 2021 to over $800k for the year [Source: Attn: Grace financial statements via Republic pg 40/Founder’s note via Republic]
Over $700k in revenue in the first 6 months of 2022 [Source: Attn: Grace financial statements via Republic pg 40/Founder’s note via Republic]
Differentiated positioning from incumbents like Depends in a category set to grow by >40% by 2027 [Source: Attn: Grace via Republic]
Nationwide retail launch by Q4 2022; Targeting 3-5K houses reached through direct shipping by 2023
As seen in Fast Company, TechCrunch, Business Insider, Forbes, and Goop [Source: Attn: Grace via Republic]
Meet the Team
Attn: Grace’s team has experienced, passionate co-founders, with the right skills for this industry and e-commerce based business model. Alexandra Fennell, a Co-Founder, is a passionate advocate for women’s health and an expert in ownable differentiation and has extensive leadership skills, now applying that experience to a mission and vision she cares deeply about. Mia Abbruzzese, a Co-Founder, is a two-time entrepreneur and has experience operating an e-commerce business. Leila Fernandes Brier, Head of Brand and Culture, is a successful cultural strategist and specializes as a naming consultant, positioning specialist, and communications planner, working with over 46 brands, including Bloomberg Media and Microsoft. Melissa Swinton, Customer Experience and Internal Operations, has 15+ years of experience in digital marketing, product design, and project management. And Attn: Grace’s team has strong advisors, including Dr. Barbara Frank, is a faculty member of Harvard Medical School and Brigham and Women’s OBGYN Department, and Dr. Jeannine Miranne, an assistant professor of Harvard Medical addition to Lynda Kelly, an established expert & SVP at Suominen Corp, a textile manufacturer.
Partners/Investors
Precursor Ventures
Gaingels
What’s the Problem?
Almost 50% of women over age 50 live with bladder leaks (incontinence). [Source: Attn: Grace via Republic]
Nearly $10B incontinence industry has only ever provided them with chemical-laden products that pose health risks. [Source: Attn: Grace via Republic]
What’s the Solution?
Attn: Grace is a B2C business that sells a bio-based, skin-safe line of women's incontinence products for women 40+
Sells 13 types of products on Amazon and DTC channels, priced between $11.97 and $27.97
Sold using a subscription-based model
Financial Highlights
Financial Summary [Source: Attn: Grace financial statements via Republic]
2020:
Revenue: $74,097
Net Loss: $(766,392)
2021:
Revenue: $877,010
Net Loss: $(1,836,181)
Projected Financial Growth
In the first half of 2022 Attn: Grace did $700K in revenue. They are forecasting revenues of $4M for the year. And it is important to note that they adjusted these projections for the year down from $7M to $4M recently (due to growth below their expectations in the last 6 months)
Investment
Fundraising Round Details [Source: Republic]
Investors can invest in Attn: Grace with a minimum investment of $150. The investment vehicle is a CROWD SAFE note, more detailed description of the terms and a link to the formal terms can be found in the "Terms" section of this investment memo below.