Oral healthcare company quip, with more than 7.5 million users, has raised $100 million in growth funding from Cowen Sustainable Investments (CSI) an environmental sustainability-focused growth investment strategy.
According to a press release, quip's global expansion plans include international brick-and-mortar and ecommerce channels.
"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," Simon Enever, quip CEO and co-founder, said in the release. "We want to redesign the way the industry conventionally views, provides, and integrates oral health into everyday life."
The company, headquartered in New York, serves customers in over 100 countries. According to quip's website, they have received wide acclaim, being named one of the 25 best inventions by Time Magazine and as the best electric toothbrush by GQ magazine. Quip's electric toothbrushes have a three-month battery life. Other products from the company include refillable floss and hygienic gum.
The release said CSI recognized quip’s potential to break out in the $450 billion global oral healthcare market through its digital platform connecting personal and professional oral care.
“quip is well on its way to becoming the iconic oral care brand in the way we’ve seen companies revolutionize other industries like fitness, pet care and eyewear" Ewa Kozicz, do-head of CSI, said in the press release. "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.”
Created in 2015, quip was the first oral healthcare company to put an emphasis on benefiting the environment, according to the release.