BURST Oral Care Raises Series C from Goldman Sachs
Goldman Sachs Growth Equity (GS Growth) leads Series C investment in BURST Oral Care to fund expansion of product portfolio and continued market penetration.
BURST Oral Care, a leader in DTC oral-care, announces it has closed a Series C funding round led by Goldman Sachs’ Growth Equity Platform, GS Growth. The investment follows a total of $20 million of funding from Volition Capital and a small group of angel investors. The new funding from Goldman Sachs will support BURST’s ongoing rapid growth, including the extension of the brand’s product line, as well as exploring new distribution channels and go-to-market strategies.
“I look forward to working with a brand as historical as Goldman Sachs. It is gratifying that investors value our success, believe in our vision, and have decided to invest in the future of BURST,” said Brittany Stewart, cofounder and president of BURST Oral Care.
BURST was founded in 2017 by Hamish Khayat and Stewart, who were motivated to bring an affordable, but high quality, electric toothbrush to market. This led to heavy investment in product development as well as significant thought around developing a promotional strategy through a direct partnership with the dental community. Community building proved to be extremely powerful and allowed BURST to gain widespread recognition very quickly. The Company’s go-to-market strategy continues to be propelled by its ambassador community of hygienists and dentists who support the brush, which is clinically proven, and are helping to power new product development.
BURST is among the fastest growing eCommerce companies in the US, recording a nearly 100% and 2500% increase in sales in 2019 and 2018, respectively. Growth has been driven by new product sales, high product attach rates, and best-in-class customer retention.
“We are excited to back Brittany, Hamish, and the rest of the BURST team as they harness the power of the dental community to build a next-generation oral care business. BURST has a clear vision and brand ethos and we believe they have meaningful runway ahead with regard to both their product suite and go-to-market strategy,” said Alison Berardo, vice president, Goldman Sachs Growth Equity.
