Red Sea Ventures leads Seed investment in Prose

We’re excited to announce that we recently led the Seed round in Prose, which is based in NYC and founded by former L'Oreal executives, with participation from Lerer Hippeau Ventures, Maveron and ISAI.

Prose empowers hair stylists to create fresh and personalized hair care for their clients using a proprietary diagnostics app, the highest quality ingredients, made-to-order manufacturing, and direct-to-consumer delivery.

We continue to be bullish about our NextGen Commerce 2.0 thesis focused on direct-to-consumer and values-based brand building, but we see Prose as an evolution into the Commerce 3.0 phase where both product and purchasing experience are improved by personalization and prescription, curation and consultation. By combining prescription from trusted experts (stylists) and personalized product, Prose is a great example of this Commerce 3.0 thesis.

Universal Standard Founders among "50 Most Daring Entrepreneurs"

Entrepreneur Magazine released a list of the 50 Most Daring Entrepreneurs, naming Jeff Bezos and Elon Musk alongside Universal Standard founders Alexandra Waldman & Polina Veksler.

Universal Standard was recognized for its Universal Fit Liberty program, which launched in April, and allows customers to exchange pieces within a year of purchase for a different size. This offers peace of mind to women who are concerned that their size may change. Returned clothing is laundered and donated to charity.

“We’d see people in our showroom hesitate to buy that $120 dress because of the anxiety of not being sure they were going to stay that size,” Veksler says. In response to the launch of Universal Fit Liberty, says Waldman, “We get love letters — it’s incredible!”

Allbirds launches Smallbirds

The limited-edition Smallbirds are for ages two to four and are an exact replica of its adult Wool Runner version, meaning each pair are made with the startup’s signature eco-friendly merino wool material.

For a limited time, each purchase will be accompanied by a children’s book called “Sadie Shaves the Day,” which co-founder Joey Zwillinger penned himself.

Eargo Raises $45M Series C

The new funding round was led by Nan Fung Life Sciences with participation from NEA, Charles and Helen Schwab, and Maveron. The new funds will be used to accelerate Eargo's industry-leading product innovation, marketing and branding initiatives in order to remain the leading direct-to-consumer hearing health brand.

Eargo has developed the world's smallest, most comfortable, and rechargeable hearing aid. While over 48 million Americans currently experience hearing loss, 80% of those individuals do not purchase a hearing device. Eargo's product removes the stigma associated with hearing loss at a mass-market accessible price-point.

Convoy Scores A Win With Anheuser-Busch Alliance

In addition to being selected in the Top 10 of LinkedIn's Top Companies 2017, trucking startup Convoy has landed a new multi-year partnership with Anheuser-Busch that will make it one of the top dozen or so carriers working with Anheuser-Busch, shipping about 500 million cans – or about 9,800 truckloads – of beer next year.

Anheuser-Busch chose Convoy as it is "looking for ways to better align incentives with its own drivers, improve their routes and contribute to the company’s goal of reducing carbon emissions." For Convoy, the scale of the Anheuser-Busch commitment shows the potential for similar large-scale partnerships with other corporations. And perhaps more importantly, the deal gives Convoy access to a steady stream of data at massive scale.

Announcing Fabric Wills, a free online tool for will creation

Fabric, the startup making life insurance easy and accessible, launched Wills, a free online tool for creating a personalized will to protect your family.

Fabric Wills is designed to address the critical need for an accessible way for anyone to draft a will. Over half of US adults – some 3 in 5 – do not have a will in place, leading to potentially burdensome legal, tax, and emotional consequences for millions of American families. Fabric created Wills because it believes that these repercussions are easily avoidable with the right kind of tools.

Get your Fabric Will now.

MBA Associate Internship

@ Red Sea Ventures

We're seeking a part-time MBA Associate to join RSV as an intern at the beginning of the Spring 2018 semester. This will be our 4th class of the MBA Associate program, which has proven to be a great way to gain exposure and access to the venture community.

Know any MBA's interested in VC? Please have them reach out to adina@redseaventures.com with Resume and Cover Letter. More info here.

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FEATURING

Social Media and Content Director
Prose, New York City

Customer Acquisition Manager
Prose, New York City

Email Marketing Manager
Universal Standard, New York City