Koala Eco Secures $3M in Series A Funding for US Expansion

Natural cleaning product company Koala Eco, hailing from Australia, has recently completed a Series A funding round, securing $3 million. This investment will bolster their growth in the United States market, where they have already established a presence.

Transaction Snapshot

  • Deal Value: $3 million
  • Deal Type: Series A funding
  • Deal Date: Reported on December 14, 2023
  • Investors: Includes the Cohen family, known from C&S Wholesale Grocers, and Arcadia Capital co-founder Leigh Oliver, among US and Australian investors.
  • Founders: Jessica Bragdon and Paul Davidson

Koala Eco, co-founded by Jessica Bragdon and Paul Davidson, has made significant strides in the US, being featured in outlets such as Gwyneth Paltrow's Goop and O, Oprah Winfrey's magazine. The brand's commitment to producing natural and effective cleaning products has been a key factor in its success. Bragdon noted the challenging fundraising environment but remains optimistic about the opportunities in the US market.

Currently distributed in 1500 stores, Koala Eco aims to double its US presence within the next six months. The brand's pricing strategy balances affordability and quality, with products like their Multi-Purpose Kitchen Cleaner retailing for $14.95. They also offer a subscription model providing a 30% discount on repeat purchases.

The funding round was led by Alice Wells at Lempriere Wells. Leigh Oliver, who will join Koala Eco's board, and the Cohen family were notable investors. The company has also formed a robust advisory board, including industry veterans like Kimberly Kreuzberger from Goop, Hilary Peterson of True Botanicals, and Catrin Thomas, former global VP at Unilever.

Paul Davidson emphasized the strategic approach towards the US expansion, citing the experienced team and comprehensive planning as key elements in their market strategy. With this new funding, Koala Eco is poised to make a significant impact in the US natural cleaning products sector.

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