Cork-based period products company Riley is speaking to potential investors in a €2m round
Riley, a women’s health company that launched a period products subscription service, is raising a €2 million funding round as it plans to expand into the UK and Europe.
he company, founded in 2021 by Lauren Duggan, Fiona Parfey and Aine Kilkenny in Schull, Co Cork, is already speaking to a range of potential investors including business angels, family offices and funds. Riley has already raised €750,000.
In conversation with the Sunday independentRiley chief executive Fiona Parfey said the funding came after a very positive year in which the business had grown 12-fold.
“Most of our sales are in our home market, but we’re really trying to expand internationally now,” she said.
“So the increase will apply to a number of things. Market expansion and marketing costs will always be a big part of the budget but we are very excited to look to the UK and Europe and see if we can repeat the success we have had in the Irish market there.
“We will also be investing in R&D and new product development, which is a big part of our vision for the company to be a lifelong health brand for women. And with that, we will be increasing our headcount – expanding the team in Ireland and adding top talent to drive growth.”
As Riley spoke to potential backers, Parfey said she would like to bring some “strategic investors” on board.
“We believe period products should be treated like toilet paper and be readily available in every bathroom.”
“Be it angel investors himself, who have led and successfully scaled a start-up and are guiding us on this journey, or a fund with other consumer brands that he has also helped grow internationally.”
Riley sells its products, including eco-friendly period products and a new probiotic for women’s health, through a variety of methods including a consumer subscription service and a corporate arm. Through its business line, it supplies corporate, university, office and hospitality groups with its products for employees, customers and students.
“We believe period products should be treated like toilet paper and readily available in every bathroom,” Parfey said. “Corporate has been a great channel for us. We have had really positive feedback from employers.”
Looking ahead to 2023, Parfey hopes to break into new markets. Beyond this year, however, she hopes to be able to take the business to the “four corners of the world”.
In addition to the recently launched probiotic, the CEO added that Riley is working on other nutritional supplements for women. She said the company has “so many ideas” for other avenues of women’s health that it believes it can improve, from menstruation to menopause.
Parfey added Riley is exploring retail opportunities that could help increase brand awareness.
https://www.independent.ie/business/irish/cork-based-period-product-firm-riley-talking-to-potential-investors-in-2m-round-42317272.html Cork-based period products company Riley is speaking to potential investors in a €2m round