Colorado-based Pit Liquor lands co-founder of Indonesia’s first decacorn as lead investor
Michaelangelo Moran, co-founder of Gojek, leads Colorado startup’s funding efforts, already at 60% of goal
FORT COLLINS, Colo., April 01, 2021 (GLOBE NEWSWIRE) -- Colorado Startup Pit Liquor, an eco-friendly, body-friendly natural deodorant made from whiskey and vodka, today announced reaching its funding milestone of $450,000 on WeFunder with the help of lead investor Michaelangelo Moran.
Funds from this round will assist Pit Liquor in increasing its marketing efforts and hiring an operations team, steps which are contributing to the company’s rapid upward trajectory as it experiences 20% month-over-month revenue growth in 2021. The lead investor is Michaelangelo Moran, co-founder of Gojek, an Indonesia-based decacorn (a company valued at more than $10 billion).
“I invested in Pit Liquor because it is disruptive, scalable and has a great brand personality, said Moran. “What’s more, Pit Liquor CEO Erica Feucht is an incredible leader. Despite a global pandemic and a ravenous fire near her home that required her to temporarily move her family, she has managed to hit her numbers and continue to scale,” he added.
The 100% all-natural deodorant launched in 2017 and has experienced 3x revenue growth for three consecutive years selling through the company’s website, on Amazon and at select local and national retailers. Just since the WeFunder raise opened in December, Pit Liquor has experienced 20% month-over-month growth. Based on projections, the company plans to reach $3 million in revenue by year end and $18 million by 2023.
“Our extraordinary growth over the last three years has been incredibly exciting, and frankly a steep climb,” said Feucht. “One day while I was pregnant — and a bit on a whim — my husband suggested I try hand sanitizer instead of deodorants that weren’t working. After smelling great all day, we knew alcohol was the key, so we set out to create the best deodorant available - and launched Pit Liquor.”
Pit Liquor is unique in the natural deodorant category because of its use of alcohol to kill bacteria, the cause of underarm stench. Using 100% food-grade ingredients that are body-safe, the patent-pending formula keeps underarms fresh for up to 48 hours by including extracts of proprietary teas and plant materials that are antimicrobial and rash-free.
Eight Pit Liquor scents are currently manufactured and distributed: New scents Whiskey Cedarwood and Whiskey Pineapple join the regular line-up of Whiskey Vanilla, Coconut Rum w/Lime, Whiskey Lavender, Whiskey Black Pepper, Just Whiskey and Unscented. This month’s limited-edition scent is Pear and Cardamom is available starting April 5.
About Pit Liquor:
Pit Liquor is the flagship product of parent company Distilled Bath and Body. Since its launch in 2017, Pit Liquor has made a distinct and indelible mark on the expanding universe of natural deodorant products in the U.S. Pit Liquor, uses eco-friendly, body-friendly, edible ingredients based from whiskey and vodka. After only three years in business, Pit Liquor is celebrating 3x revenue growth three years in a row and is on track to hit $3 million in revenue by the end of 2021. All Pit Liquor products are proudly “Made in the USA.” To learn more, visit www.distilledbathandbody.com.
About WeFunder.com
WeFunder.com is a crowdfunding service that connects startups with investors through its online platform. Individuals need not be accredited. To invest, visit www.wefunder.com/whiskey-deodorant.
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