Venture Capital News: Jaanuu Announces $5M Seed Funding
LOS ANGELES, CA, Jaanuu, the only medical apparel company that creates stylish and functional scrubs for healthcare professionals, today announced a $5 million round.
This brings Jaanuu's total seed funding to $7.625 million from investors with deep expertise in the e-commerce and apparel industries. Investors include Sipadan Capital, Innovation Global Capital (founded by former COO of Uniqlo), Dan Nordstrom (former CEO of Nordstrom.com and current CEO of Outdoor Research) and Deborah Benton (board member of The Bouqs, Carbon38 and Vow To Be Chic), who join previous investors BAM Ventures, John Suh (CEO of LegalZoom), Ron Burkle (founder of The Yucaipa Companies), Sean Collins (founder of BCG Digital Ventures), Rick Marini (founder of Tickle and BranchOut), Potenza Capital, M3 Ventures and more. The funding will be used to fuel company growth, support the creation of additional products and bolster the digital and physical product teams.
Jaanuu is led by co-founder and CEO Shaan Sethi, a private equity investor, who was inspired to find a solution after his sister, pediatrician Dr. Neela Sethi Young, expressed frustration with having to wear the often frumpy uniform that had become standard in the healthcare industry. The brand's apparel, which gives healthcare professionals a stylish and functional alternative to traditional scrubs, is made with the industry's first premium antimicrobial-finished fabric to restrict the growth of bacteria and a proprietary four-fabric stretch blend manufactured to withstand harsh hospital conditions.
"With such a preeminent group of investors by our side, we have no doubt that Jaanuu will continue to rise as the largest and fastest-growing e-commerce company in the $10 billion medical apparel space," said Shaan Sethi, co-founder and CEO of Jaanuu. "Traditional scrubs are behind the times and the retail channel in which they are currently distributed is broken. We've seen significant interest in our runway-inspired designs and are looking forward to deploying this new capital to drive innovation across both core and tangential product lines."
Jaanuu's scrubs are reflective of current trends so that healthcare professionals can feel confident about their professional style. Designs include peplum tops, floral prints, lace-up necklines, zipper embellishments, asymmetrical cuts and more that can be mixed and matched to create a variety of outfits.
"By introducing the first and only contemporary medical apparel in the market, Jaanuu has created a loyal following of healthcare professionals who were previously without stylish options," said Deborah Benton, board member of The Bouqs, Carbon38 and Vow To Be Chic. "Jaanuu's expanding awareness and adoption to date with minimal capital has largely been a result of organic word-of-mouth, which is a testament to the opportunity for continued growth."
On the heels of this new investment, Jaanuu has appointed Derrick Dinglasan as senior vice president of product management to accelerate growth and retention strategy. Dinglasan hails from men's fashion brand, Five Four Club (he previously led product at The Honest Company), where his user acquisition tactics positively impacted subscriber growth and e-commerce revenue. He helped lead the company from $30 million to $100 million in revenue in two years and supported the launch of three e-commerce verticals in 2016 alone. Other key members of Jaanuu's digital and physical product teams come from leading fashion and e-commerce companies including Lucky Brand, True Religion, The Honest Company, TechStyle, MeUndies, Five Four Club and Carbon38.
Jaanuu is the only medical apparel brand creating contemporary and functional scrubs that today's professionals actually want to wear. The digitally native vertical brand was founded in 2013 by private equity investor Shaan Sethi and his sister, pediatrician Dr. Neela Sethi Young. Jaanuu's runway-inspired designs are reflective of current trends and are made with a proprietary four-fabric stretch blend and the industry's first premium antimicrobial-finished fabric, which is manufactured to inhibit the growth of bacteria and to withstand harsh hospital conditions. For more information, please visit jaanuu.com.
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