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Endeavor Entrepreneur company FIGS, founded by Heather Hasson and Trina Spear, received $5 million in a Series A funding round led by Campfire Capital, a Vancouver-based venture capital group that focuses on retail and technology. FIGS makes fashion-forward medical apparel that is antimicrobial, wrinkle resistant and made from lightweight, breathable fabric.This funding round also featured participation from Endeavor Catalyst.
“We are thrilled to have Endeavor Catalyst on board as they fundamentally understand the concept of doing well while doing good. Since joining the Endeavor program as high impact entrepreneurs, we have benefited from Endeavor’s extensive network of world class leaders,” said Heather Hasson, CEO of FIGS.
Started in 2013, FIGS identified a need for alternatives to currently available products in the medical scrubs industry, the bulk of which were made up of low-quality, uncomfortable styles. FIGS aims to innovate the industry and simultaneously launched a philanthropic 1-for-1 program, Threads for Threads. The program has donated 75,000 scrubs to in-need health care professionals across 26 countries.
FIGS has raised $10 million in funding to date. The new capital will be used to increase inventory to meet demand, explore and expand new product categories, and scale its team. FIGS will join Campfire’s growing list of portfolio companies, including Montreal-based menswear retailer Frank & Oak and San Francisco-based food tech startup Juicero.
FIGS was selected by Endeavor Miami in 2015 and has since received key mentoring services from the Endeavor network, including connections to top investors and introductions to industry experts. This rounds marks Endeavor Catalyst’s 35th investment to date and it’s Catalyst first investment in the United States.
Read more about the company by clicking here.
About Endeavor Catalyst
Endeavor Catalyst is the innovative co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Since launching in January 2012, Endeavor Catalyst has raised $35M in philanthropically donated and invested capital, and invested over $19M into 35 Endeavor companies in 14 countries. To date, Endeavor Catalyst has co-invested alongside a number of leading venture capital and growth equity funds, including Accel Partners, General Atlantic, NEA, Sequoia Capital and Tiger Global. Investments include Globant (NYSE: GLOB) in Argentina; Yemeksepeti.com (acquired by Delivery Hero) in Turkey and Ruma in Indonesia.
Learn more about Endeavor Catalyst by clicking here.
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