quip, an oral healthcare company with over 7.5 million users, has raised USD100 million in growth funding from Cowen Sustainable Investments (CSI) an environmental sustainability focused growth investment strategy.
On the heels of reaching profitability, expanding into new oral care verticals, and launching its first professional services, CSI recognised quip’s potential to disrupt the USD450 billion global oral healthcare market through its digital platform connecting personal and professional oral care, and become the centre for oral health.
“quip is well on its way to becoming the iconic oral care brand in the way we’ve seen companies revolutionise other industries like fitness, pet care and eyewear. No other oral care company can match quip’s engaged customer base, data expertise, professional network and digital platform that helps people take control of every aspect of their oral health,” says Ewa Kozicz, Co-Head of CSI.
Since launching in 2015, quip has upended the personal oral care market becoming the first and most prolific brand putting design, accessibility and simplicity at the forefront of oral care while providing a tangible benefit to the environment with its innovative, first of its category, refillable oral care products and all-paper recyclable packaging. With the Series B funding, quip will further scale its existing consumer packaged goods (CPG) business and fuel the development of new verticals, innovations in professional services and global expansion, taking aim at the entire global oral healthcare market.
“At quip, we want to improve every step in your oral health journey …whether that’s rewarding you for regularly brushing your teeth for two minutes twice a day, tracking changes in your oral health, or seamlessly scheduling your next dentist appointment through our app,” said quip co-founder and CEO, Simon Enever. “We want to redesign the way the industry conventionally views, provides, and integrates oral health into everyday life.”
Vusal Najafov, Co-Head of CSI, adds: “quip has established itself as a leading platform for oral health solutions, with an innovative model underpinned by sustainability and high quality, affordable products. We are excited to support quip in its mission to make dental care services more simple, accessible and enjoyable for everyone.”
Artem Mariychin, Managing Director at CSI, will join the company’s board.
Citi acted as exclusive financial advisor to quip in this growth financing.
