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EBY secures 6 million US dollars investment

By Danielle Wightman-Stone

31 Aug 2021

Business

Image: courtesy of EBY

Lingerie brand EBY co-founded by actress Sofía Vergara and entrepreneur Renata M. Black has secured 6 million US dollars in Series A funding.

The New York-based direct-to-consumer body-inclusive lingerie brand, which wants to be known as the “authority in seamless underwear” has received backing from investment firm Colt Ventures. The Dallas-based company previously invested in e-commerce food delivery company Deliveroo, online video platform Rumble, and marketing automation platform Eloqua.

EBY’s fast growth has also garnered investment from other notable investors including Silicon Valley venture capitalist firm Azure Capital, which boasts a portfolio that includes Native Deodorants, Bouqs and Sleep 8, Robert DiRomualdo, chairman of Ulta Beauty, Ken Goldman former chief financial officer of Yahoo, and Duncan Neiderauer, former chief executive of the New York Stock Exchange.

Sundeep Agrawal, managing director, general partner at Colt Ventures, said in a statement: “Now more than ever, we are excited to invest in a female-led company such as EBY that is bursting with market potential and has a notable social mission to support women globally.

“Just like Colt Ventures, EBY is laser focused on the future. We were highly impressed with Renata’s bold vision and the business she has built to date. We are excited to support her as the company enters its next growth phase.”

Lingerie brand EBY, co-founded by actress Sofía Vergara to use investment for marketing and product development

EBY, which stands for Empowered by You, launched in 2018 and utilises a “no-slip-grip,” technology for its seamless panties and bralettes, available in body-inclusive sizes XS-4XL. The direct-to-consumer brand calls itself a women’s empowerment and tech apparel company, as one of its objectives includes more than just selling underwear, but also empower women. EBY does that by donating 10 percent of its proceeds from its underwear sales to the Seven Bar Foundation a charity supporting women through microfinance by providing small business loans to women in poverty.

“EBY is in a unique place in a competitive market as an all-size inclusive, tech-commerce brand with a social mandate,” explains co-founder Renata M. Black. “It’s not just about revenue and growth, it’s about impact and creating lasting relationships with our customers.”

With the new funding, EBY said it plans to open new channels, make key new hires, and expand its influencer marketing efforts to support its rapid growth, which has seen 10,000 5-star customer reviews in under three years.

They will also be launching several new product lines throughout 2021, including a Limited Edition Seamless Luxe Collection, launching this week, offering ultra-comfortable, premium seamless panty and bralette sets ranging from 21-69 US dollars.

Seamless Luxe pieces will be available in two limited edition colourways, a hand-painted floral print and a lilac-like purple. The print was created in partnership with emerging graphic artist Laura Matson, in keeping with EBY’s mission of empowering women in business.

In addition to the Seamless Luxe Collection, EBY will launch additional premium collections, period underwear, and a mesh collection this year.