US-based organic cotton tampon provider Lola has collected $7m in a series A round featuring BBG Ventures, the venture capital fund owned by mass media company AOL, Forbes has reported.
VC firm Spark Capital led the round, which included actress Lena Dunham and existing backers Lerer Hippeau Ventures, Brand Foundry Ventures and BoxGroup.
Founded in 2014, Lola sells tampons, thin pads and liners made entirely from organic cotton. Subscribers sign up to receive Lola products either monthly or once every two months, paying $10 for a box of 17 applicator tampons, or $9 for 12 ultra thin pads.
The latest round brings Lola’s total funding to $11.2m, $10m of which was raised this year. Lola will use the fresh capital to increase its staff numbers, add new products, beef up its marketing and identify more customers.
Lerer Hippeau led Lola’s $3m seed round in February 2016, with participation from BBG Ventures, Brand Foundry, BoxGroup, VaynerRSE, 14W and angel investors including Allison Williams, Dunham’s costar on the HBO television series Girls. Lola launched its service in July 2015 with $1.2m in angel funding.