W, the men’s personal care brand founded by content creator and boxer Jake Paul, has raised 14 million US dollars in seed and series A funding, led by Shrug Capital.
The men’s vitamin-infused body care brand launched in June exclusively at Walmart and Walmart.com, to offer Gen Z men a “much-needed upgrade to their personal care routines” at an affordable price point, as its hair, body, and face products are all priced under 10 US dollars.
The latest financing round brings W’s valuation to over 150 million US dollars. It includes seed financing and incubation from Anti Fund, along with prominent co-investors Range Group, 305 Ventures, Uphonest Capital, Quiet Capital and Palm Tree Crew.
There was also participation from individuals including Celsius’ chief executive John Fieldly, Fanatic’s chief executive Michael Rubin, rapper Lil Durk, tennis players Nick Kyrgios and Naomi Osaka, and entrepreneurs Carter Reum and Paris Hilton.
W body care product line-up by Jake Paul Credits: W
Commenting on the funding, Paul, founder of W, said in a statement: “It’s incredibly important to me that W fill the void that’s been apparent in the men’s personal care category for decades.
“Everything W does is different — from driving record sales in under a month to our forward-thinking approach to creator partnerships. Our funding to date reflects our investors’ confidence in the immense opportunity we have to build a new type of legacy brand in unique and unexpected ways. I invested my own capital into this company along with my partner and co-founder Geoffrey Woo because we strongly believe in W’s runway to achieve a massive and successful future.”
Jake Paul’s W raises new funds to reinvigorate men’s personal care aisle
The brand, which is on track to hit 50 million US dollars in its first year, breaking records as the best launch in Walmart’s ‘Emerging Brands’ category, said it will utilise the new capital to support SKU and retailer expansion, as it looks to continue its mission to offer “better-for-you products at a great value”.
Moshe Lifschitz, managing partner at Shrug Capital, said: “The industry is riddled with legacy players that are taking antiquated approaches and in turn are losing market and mindshare.
“When we think about brands that will shape the next generation of household brands, W has all the characteristics. We are extremely excited to partner with Jake, Woodie, and Geoff and look forward to the many wins to come.”
W body care product by Jake Paul Credits: W
Paul co-founded W with Geoffrey Woo and Woodie Hillyard, and strategic advisor Nakisa Bidarian. Woo is Paul’s co-founder in their venture capital firm, Anti Fund, that incubated W and Hillyard is a seasoned CPG veteran who helped build consumer brands, including Casper and Safely, and is the brand’s chief executive officer.
Hillyard added: “We realised the typical direct-to-consumer playbook wasn’t right for us and instead decided to launch retail-first with Walmart, America’s biggest retailer.
“I’m extremely excited to see that consumers are reacting so positively to W since our launch just last month. We’re looking forward to expanding our consumer touchpoints and breaking records as one of the biggest CPG brands to hit the market.”
To increase the reach of W, the men’s personal care brand has also assembled an “all-star” roster of celebrity and influential brand ambassadors as co-owners who embody the winning spirit in their respective industries. The equity holders announced to date include MMA champion and ESPN’s 2024 Best UFC Fighter recipient, Sean O’Malley and hip-hop megastar, Rubi Rose. The goal of the co-owners is to bring together people Paul admires who represent hard work and ambition and do things differently across their unique domains of expertise.
All W hair, body, and face products are vegan, cruelty-free, formulated without phthalates, parabens, harsh sulfates, or artificial dyes, and are infused with vitamins, including magnesium, biotin, and vitamin E to nourish hair and skin. The collection is available in three patent-pending mood-boosting fragrances, designed with an industry-leading scent house to elevate the sense of well-being through smell.
W launched with a body wash, body spray and antiperspirant deodorant, and has plans to add two-in-one shampoo and conditioner, bar soap, face wash, pomade and hair gel later this summer.
