PHLUR, fine fragrance startup online from Austin Texas (EUA) announcing yesterday the first closing of its Series A, targeting a total of $6 million in financing. The round is being led by Symrise, a global supplier of fragrances and flavorings, and is the company’s first-ever investment in a fragrance brand.
The final closing of this round will bring PHLUR’s funding to date to a total of $12 million.
Launched in 2016, PHLUR paired with at-home sampling program, to provide customers the time and space to find the fragrances.In 2017, PHLUR quintupled its revenue, acquired over 35,000 paying customers, and expanded its core offering with the introduction of premium scented candles.
This new funding will enable the company to continue to aggressively scale its business, diversify its marketing activities, launch new distribution channels and extend into body care.
“We’ve been incredibly fortunate to work with Symrise and its team of world-renowned perfumers since our inception. We’re thrilled to be taking this next step in our relationship with Symrise, one that provides further alignment and validation of our model, as well as the capital investment to continue on the aggressive path we’ve laid out,” says Eric Korman, founder and CEO of PHLUR.
“As one of the world’s premier fragrance suppliers, our ambition is to embrace new opportunities arising from the digital revolution and through that help shape the markets of tomorrow. PHLUR is a great investment as well as an amazing platform for learning, and we are thrilled at the opportunity to help continue the brand’s growth,” says Achim Daub, Symrise global president of Scent & Care.
Daub will join PHLUR’s board of directors alongside Tom Ball, co-founder and managing director of Next Coast Ventures, and Jennifer Olsen, the interim CMO of UNTUCKit.