Billie, a startup that makes shaving products for women, just got acquired by P&G.
The companies did not disclose the financial details of the deal.
Billie, founded in 2017 in New York, is a portfolio company of Austin-based Silverton Partners. That same year, Silverton Partners led a $6 million seed-stage investment for the company with participation from returning investors including Female Founders Fund and Lakehouse Ventures. To date, Billie had raised $35 million, according to Crunchbase.
Georgina Gooley and Jason Brayman founded the company that focused on female body care. It offers a subscription-based, direct to consumer brand that sells 5-blade razors, shaving cream, body wash, body lotion, and other goods. Gooley and Brayman will continue to run the company which caters to Millennial and GenZ consumers.
P&G said the deal complements its existing portfolio of products focused on women including its Venus, Braun, and Joy brands.
“We’re thrilled by the prospect of joining P&G to bring high-quality products at affordable prices to women around the world,” Gooley, co-founder of Billie said in a news release “Their ability to create global household brands that have stood the test of time is a testament to their brand-building expertise; together, we’ll be able to create an even stronger brand for womankind.”
“The impact and consumer connection Georgina and Jason have been able to make with Billie in a short period of time has been remarkable,” Gary Coombe, CEO of P&G Global Grooming said in a news release. “The combination of Billie’s high-quality, naturals-focused razors and body care products, and P&G’s highly-skilled and experienced people, resources, technical capabilities and go-to-market expertise will allow us to further reach Millennial and GenZ women through a fresh, bold attitude.”
“The combination of brands, talent and expertise will strengthen P&G’s Grooming business and accelerate growth for Billie, as well as fuel the development of additional products designed for the specific needs of women,” according to a news release.
Billie donates 1 percent of its revenue to women’s causes including Every Mother Counts, which focuses on making pregnancy and childbirth safe for women.