Vancouver, British-Columbia-based Bruush Oral Care has secured C$6.5 million in a Series A financing, exceeding a C$4 million target. The investors were not disclosed. Launched in 2019, Bruush is a direct-to-consumer e-commerce company that retails electric toothbrushes. Gravitas Securities was the lead agent and financial advisor on the round.
PRESS RELEASE
VANCOUVER, BC (SEPTEMBER 9, 2020) – Bruush Oral Care Inc. (Brüush), a Canadian e-commerce company poised to disrupt the oral care industry, is pleased to announce that it has closed an oversubscribed $[6.5] million Series A financing round, far exceeding its original $4.0 million target. Gravitas Securities acted as sole lead agent and exclusive financial advisor on the financing, putting together a robust virtual roadshow culminating in a strong strategic shareholder base. Funds generated through this round of investment will be focused on strategic marketing initiatives, increasing brand awareness and ultimately, fostering growth in the company’s rapidly increasing subscriber base.
Brüush was founded by Chief Executive Officer Aneil Manhas, a former investment banker turned entrepreneur, and Chairman Drew Green, one of Canada’s leading technology entrepreneurs, founding companies such as SHOP.CA, EMERGE COMMERCE, APOLLO EXCHANGE, CLC NETWORK, YOURIKA along with many others
Brüush is the modern-day electric toothbrush that will change the way consumers purchase, use, and think about their toothbrush through three key factors: professional quality cleaning, savvy design and a brush head subscription model. “Put simply, Brüush doesn’t sacrifice on quality, looks good on your bathroom counter and doesn’t break the bank relative to comparable electric toothbrushes due to our direct-to-consumer model,” said Aneil Manhas, Founder and Chief Executive Officer. “Our aim is to create a frictionless experience for consumers to upgrade from manual to electric, as dentists generally agree that using an electric toothbrush is significantly better for your oral health.”
Despite this being the case, over 85% of North Americans still use a manual brush, with cost and convenience being the main barriers for upgrading to electric. Leaning into a digital-first approach, with eyes on the health-conscious lifestyle of the Gen Z and millennial generations, Brüush is an attractive brand for this demographic. Designed with the 18 to 45-year-old in mind, the direct-to-consumer model plus automatic refills delivers a seamless shopping experience for this audience to keep up with their oral health without compromising their bathroom selfie.
“Brüush’s strong leadership team coupled with the fact that the company is well positioned as an online retailer in the healthcare space makes it a very attractive opportunity for Canadian investors,” said Kia Besharat, Senior Managing Director & Head of Capital Markets Origination at Gravitas Securities. “The soft launch last year was proof of the market demand and of the strong value proposition compelling consumers to choose Brüush. The company is poised and ready to scale aggressively.”
“We are extremely grateful for and humbled by the support from our investors and the Canadian capital markets in these unprecedented and historic times,” expressed Drew Green, Chairman of Brüush. “Aneil and his team are on a mission to disrupt the banal oral care market, bringing a better product at a better price and delivering a better experience.”
About Brüush Launched in 2019, Brüush sells premium electric toothbrushes to consumers in North America, and with a direct-to-consumer, subscription-based business model, the company is able to offer a product at a fraction of the cost of traditional retail, while providing an easy brush head refill plan ensuring consumers are able to easily maintain a higher level of oral health. For more information, please visit https://bruush.com and follow @bruush social media for updates.
About Gravitas Securities Inc. Gravitas Securities Inc. (GSI) is a leading full-service investment dealer providing independent, customized and tailored investment banking solutions with a specialization towards growth-stage companies from offices in Toronto and Vancouver. Our firm’s dedication and expertise across multiple leading edge industries offers our clients unique market insight as they execute on their strategy to enhance shareholder value. GSI also provides private client wealth management services committed to adding measurable value to our clients and meeting their individual investment needs. GSI is a member of the Investment Industry Regulatory Organization of Canada (IIROC), a Participating Organization of the TSX Venture Exchange and a member of the Canadian Investor Protection Fund (CIPF).
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