SEXUAL WELLBEING STARTUP EMJOY RAISES $3M SEED FUNDING TO FURTHER DEVELOP ITS CATEGORY-DEFINING APP.
Emjoy, the Barcelona-founded audio-based intimate wellbeing startup, today announces that it has raised $3M seed funding in a round led by venture capital firm JME Ventures, with existing investor Nauta Capital participating.
The announcement comes as paying subscriptions for Emjoy’s app have more than tripled since lockdown began in mid-March. Emjoy now has 150,000 active users globally and this figure continues to grow steadily worldwide, with the company’s main markets being the U.S. and the U.K.
Founded in January 2019 and launched worldwide in early 2020, Emjoy’s mission is to close the orgasm gap by enabling women to discover their bodies and (re)gain confidence in their sex lives. With a library of 150+ audio sessions and sensual stories, developed by its in-house sex therapist and sexual wellbeing experts, the app provides a holistic solution to reduce pleasure inequality and help its users get in the mood.
As well as growing Emjoy’s team, currently made up of 11 people, the funding will also be used to help further develop Emjoy as a category-defining product, and propel it forward as the world’s leading female sexual wellness app. Drawing on the popularity of podcasts and audiobooks, and the huge progress being made by female empowerment movements in recent years, Emjoy has built an app that aims to make female sexual wellbeing accessible, providing its users with a format that feels safe and fun but that is also reliable.
Andrea Oliver, CEO and Co-Founder of Emjoy, comments:
“This is an exciting time for Emjoy as we work to establish sexual wellbeing as a vital cornerstone of the global wellness sector and broaden the way that the space is viewed. This funding will play a vital role in helping to establish Emjoy as an everyday wellness tool in the same way that we now view mental health, fitness and meditation apps – which were once also considered as emerging categories. We also look forward to collaborating further with leading experts in the space, to ensure our users receive much-needed content, spanning all facets of sexual wellbeing and education; body positivity, understanding sexual trauma, and discovering oneself.”
“Women are becoming far more comfortable demanding products that meet their needs and, at Emjoy, we are delighted to be at the forefront of responding this, working to normalise female sexual wellbeing globally and further empowering them through our technology.”
The funding will also be used to further develop the app’s content and facilitate additional collaborations with leading academics, experts and influencers within the sexual wellbeing and education space. Emjoy’s library is updated weekly with new content and its audio collections are crafted and supervised by the company’s in-house sex therapist, Mia Sabat, to ensure that all of Emjoy’s content is not only science-based but also inclusive, reflecting the fact that no two users’ journeys will look the same.
Prior to founding Emjoy, CEO Andrea Oliver worked as a VC at Nauta Capital.
Samuel Gil, Partner at JME Ventures, comments: “We strongly believe that Emjoy has all the ingredients to become a global leader in a very interesting nascent category. When an inspiring mission meets an extremely ambitious and talented team, it unleashes a force that can’t be stopped. Emjoy combines two sectors we are really bullish on: consumer subscriptions and digital health/wellbeing. It is a great example of how technology can be leveraged to bring excellent but otherwise hard to access solutions to the mass market. We feel really fortunate to partner with Andrea, Dan and the rest of the team and are looking forward to witnessing first-hand what they are going to achieve in the coming years.”
Emjoy was founded in Barcelona, in January 2019 by Andrea Oliver Garcia, CEO, and Daniel Tamas, CTO. Following a €1 million investment from VC firm, Nauta Capital, the app launched worldwide in early 2020, receiving 80,000 registered users in the first six months. The company currently has 11 employees.
About JME Ventures
JME Ventures is an early-stage, sector-agnostic venture capital firm with offices in Madrid and Barcelona. For the last decade, JME Ventures has partnered with some of the best entrepreneurs in Spain and has helped them build global cutting-edge consumer and enterprise companies such as Flywire, Jobandtalent, Odilo, Lingokids, 21Buttons, IriusRisk, and Atani.
Nauta Capital is a pan-European Venture Capital firm investing in early-stage technology companies, with offices in London, Barcelona, and Munich. With over €500M assets under management, Nauta Capital is one of Europe’s largest B2B focused VCs. As a sector-agnostic investor, Nauta’s main areas of interest include B2B SaaS solutions with strong network effects, vertically focused enterprise tech transforming large industries as well as those leveraging deep-tech applications to solve challenges faced by large enterprises. Nauta has led investments in more than 50 companies including Brandwatch, Marfeel, Nextail, Emjoy, zenloop, Mercaux, Onna, Holded, MishiPay, and Smart Protection.
Nuevos informes y series de datos: El Capital riesgo Informal en España 2020 / Informe de Impacto Económico y Social del Capital Privado en las operaciones de Middle Market en España. 2018 (ASCRI) / Informe de Impacto Económico y Social de los préstamos otorgados por Enisa
Otros informes destacados: Madurez del Venture Capital en España. (English version)/ Financiación de startups de Energía en España / El tiempo de las desinversiones en Private Equity en España (English version)