Female led lingerie company, EBY secures $6 Million

EBY, a women's empowerment and tech apparel company specializing in seamless underwear, has successfully raised $6 million in Series A funding. Co-founded by "Modern Family" star Sofía Vergara and entrepreneur Renata Black, the New York-based lingerie brand was established in 2018 with the goal of becoming the industry leader in seamless innerwear. EBY, which stands for Empowered by You, utilizes patented flocking technology, also known as "no-slip-grip," for its seamless panties and bralettes.

The company's mission extends beyond selling underwear; it aims to make a positive impact on women's lives. To achieve this, 10% of proceeds from EBY underwear sales are donated to the Seven Bar Foundation, a nonprofit organization that supports women living below the poverty line by providing them with loans to start their own businesses.

With the newly acquired funds, EBY plans to expand its team, hire a chief operating officer, increase marketing efforts, develop new products and innovations, and extend its international reach through e-commerce businesses in Canada and the UK. The first step in this expansion plan is the launch of EBY's limited-edition Seamless Luxe Collection.

Investors in EBY's Series A round include Azure Capital Partners, Colt Ventures, Cleo Capital, and IDI Group. Sundeep Agrawal M.D., managing director at Colt Ventures, expressed excitement about investing in a female-led company like EBY, which has significant market potential and a strong social mission to support women globally.

In less than three years, EBY has received over 10,000 five-star reviews and doubled its revenues between 2018 and 2019. The company transitioned from a subscription model to a fully e-commerce platform in September 2020, allowing customers to choose between monthly memberships or à la carte purchases. With this growth, EBY is on track to double its revenues once again in the coming year.

As the authority in seamless underwear, EBY aims to become the go-to choice for women wearing leggings. The company's innovative technology addresses common issues such as riding, bunching, and wedgies, making it a performance-based product. By offering size inclusivity and enabling women to make an impact with their underwear choices, EBY is filling a gap in the market and contributing to the growing trend of purpose-driven brands.