W, the men’s personal care brand founded by professional boxer Jake Paul, announced on Tuesday that it has raised $14 million in Series A funding, led by Shrug Capital. 

This latest round of financing brings W’s valuation to over $150 million. The funding includes seed financing and incubation from Anti Fund, with prominent co-investors such as Range Group, 305 Ventures, Uphonest Capital, Quiet Capital, and Palm Tree Crew. Notable individual investors include Celsius’ CEO John Fieldly, Fanatic’s CEO Michael Rubin, rapper Lil Durk, tennis star Nick Kyrgios, Naomi Osaka, and entrepreneurs Carter Reum and Paris Hilton.

The brand plans to utilize the new capital to support SKU and retailer expansion, aiming to revolutionize the men’s personal care aisle with better-for-you products at a great value.

“It’s incredibly important to me that W fill the void that’s been apparent in the men’s personal care category for decades,” said Paul.

“Everything W does is different — from driving record sales in under a month to our forward-thinking approach to creator partnerships. Our funding to date reflects our investors’ confidence in the immense opportunity we have to build a new type of legacy brand in unique and unexpected ways. I invested my own capital into this company along with my partner and co-founder Geoffrey Woo because we strongly believe in W’s runway to achieve a massive and successful future.”

The line launched last month exclusively at Walmart with the promise to deliver high-performance, vitamin-infused products that smell great and are designed to work harder, at an affordable price point. W has already set records as the retailer’s best launch in its ‘Emerging Brands’ category, surpassing seven figures in sales and is on track to exceed $50 million in sales by the end of its first year. 

Paul brought the brand to life with co-founders Geoffrey Woo and Woodie Hillyard, along with strategic advisor Nakisa Bidarian. Meanwhile, equity holders announced to-date include MMA champion and ESPN’s 2024 Best UFC Fighter recipient, Sean O’Malley and hip-hop megastar, Rubi Rose. 

“The industry is riddled with legacy players that are taking antiquated approaches and in turn are losing market and mindshare,” said Moshe Lifschitz, Shrug Capital’s managing partner.

“When we think about brands that will shape the next generation of household brands, W has all the characteristics. We are extremely excited to partner with Jake, Woodie, and Geoff and look forward to the many wins to come.”