The direct-to-consumer razor startup raised $155 million in Series E financing after the FTC blocked Harry's from being acquired by Edgewell Personal Care. Harry's filed paperwork indicating that it has raised another nine-figure cash amount.
The SEC shows that Harry's has raised $139.9 million. Campbell Soup Co. CEO Mark Clouse was listed along with Zola's co-founders, as well as Harry's chief financial officer.
A spokesman for Harry said they were not commenting at this time.
The company has received over $750 million in total known funding since it was founded, according to data from the website.
From acquisition to brand incubator.
Over the past year, Harry has been active. Lum is a direct-to-consumer brand that helps control body odor. The headquarters hair care line was launched early in the 21st century. In a previous interview with TechCrunch, Tehmina Haider, Harry's chief growth officer, spoke about the company's focus on acquiring businesses with "demonstrated product fit and consumer love."
She said that the company wants to be a multi-category company and build a family of brands. We want to create more and better things for consumers, and we are looking for brands that are aligned with that mission, positioned in a way that we can be helpful, and are brands that serve unmet needs.
It's not clear whether or not this is a plan to help it eventually enter the public markets, but it does help that the late-stage company has some precedent to look to.
After its rocky debut in the public markets, the company taught investors and the public about the limits of a direct listing.
If a company wants to go public, they need to grow quickly enough that losses feel secondary, and they need to find a way to trim losses if growth slows. It could appear as value growth, but it may not be.
Regardless of whether it goes down the public market path or not, Harry's goal since birth was to target incumbents in the global shave market, which is expected to reach $22.5 billion by 2030.
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