Jake Paul's W Raises $14 Million in Seed and Series A Funding Led by Shrug Capital and Anti Fund to Reinvigorate Men's Personal Care Aisle

On track to hit north of $50M in its first year, W is already breaking records as the best launch in Walmart's 'Emerging Brands' category

MIAMI, July 23, 2024 /PRNewswire/ -- W, the men's personal care brand from Jake Paul made to smell great and designed to work harder, today announced it has raised a Series A led by Shrug Capital. Valued north of $150 million, W has raised $14 million in funding to-date, inclusive of seed financing and incubation from Anti Fund. Prominent co-investors include Range Group, 305 Ventures, Uphonest Capital, Quiet Capital and Palm Tree Crew, with participation from individuals including Celsius' CEO John Fieldly, Fanatic's CEO Michael Rubin, Lil Durk, Nick Kyrgios, Naomi Osaka, and Carter Reum and Paris Hilton.

"It's incredibly important to me that W fill the void that's been apparent in the men's personal care category for decades," said Jake Paul, Founder of W. "Everything W does is different — from driving record sales in under a month to our forward-thinking approach to creator partnerships. Our funding to date reflects our investors' confidence in the immense opportunity we have to build a new type of legacy brand in unique and unexpected ways. I invested my own capital into this company along with my partner and Co-Founder Geoffrey Woo because we strongly believe in W's runway to achieve a massive and successful future."

Launched last month exclusively at Walmart, W is already breaking records as the retailer's best launch in its 'Emerging Brands' category history, blowing past seven figures in sales and on track to hit north of $50 million in sales by the end of its first year. W will use the capital to support both SKU and retailer expansion as the company continues on its mission to reinvigorate the men's personal care aisle through its better-for-you products at a great value.

"The industry is riddled with legacy players that are taking antiquated approaches and in turn are losing market and mindshare," said Moshe Lifschitz, Shrug Capital's Managing Partner. "When we think about brands that will shape the next generation of household brands, W has all the characteristics. We are extremely excited to partner with Jake, Woodie, and Geoff and look forward to the many wins to come."

W has also assembled an all-star team of W Co-Owners — a roster of celebrity and influential brand ambassadors who embody the winning spirit in their respective industries. The equity holders announced to-date include MMA champion and ESPN's 2024 Best UFC Fighter recipient, Sean O'Malley and hip-hop megastar, Rubi Rose, with more Co-owners to be announced soon. The goal of the Co-Owners is to bring together people Paul admires who represent hard work, ambition, and do things differently across their unique domains of expertise.

"We realized the typical direct-to-consumer playbook wasn't right for us and instead decided to launch retail-first with Walmart, America's biggest retailer," said W's CEO and Co-Founder, Woodie Hillyard. "I'm extremely excited to see that consumers are reacting so positively to W since our launch just last month. We're looking forward to expanding our consumer touchpoints and breaking records as one of the biggest CPG brands to hit the market."

For more information, visit www.getw.com and follow @itscalledw on Instagram and TikTok.

About W
W is a men's personal care brand founded by pro-boxer, entrepreneur and digital creator, Jake Paul, that is made to smell great and designed to work harder. Founded to give men the confidence to win in all pursuits of life, W's better-for-you products are designed to work hard when you need them most. Offering a range of accessibly priced products for hair, body, and face, W products are vegan, cruelty-free, and formulated without phthalates, parabens, harsh sulfates, or artificial dyes. W's formulas are infused with vitamins like Magnesium, Biotin, and Vitamin E to nourish hair and skin. The collection is available in three uplifting scents that were developed with mood-boosting fragrances. W can be found nationwide at Walmart and on Walmart.com. For more information, visit www.getw.com.

About Shrug Capital
Shrug Capital invests in culturally relevant companies and has an impressive portfolio in the consumer space including MrBeast's Feastables and Liquid Death. The firm was founded in 2018 and is led by Niv Dror and Moshe Lifschitz. Shrug manages over $125 million in AUM and invests across a variety of industries. Shrug has unique access to business leaders, founders, executives, and celebrities who regularly co-invest and work with the companies Shrug partners with. Shrug is known to be super connectors, bridging the gap between leaders in tech and entertainment. More at www.shrug.vc.

About Anti Fund
Anti Fund is a venture capital firm founded by Jake Paul and Geoffrey Woo in 2021. Anti Fund believes the best founders are rebels and iconoclasts, and the "anti" ethos resonates with the very best engineers, scientists, and creators. Startups live and die on two levers: capital and attention. While capital is fungible, the ability to command attention is not. Whether a company sells consumer products or is a research lab producing AI & robotic foundational models, they all must compete on the ability to win mindshare and ultimately customers and revenues. Visit www.antifund.vc for more information.

SOURCE W Labs Inc.