The veteran-owned, family-operated outdoor lifestyle company will put the investment capital toward innovative R&D, increased production capacity, and brand development.
RALEIGH, N.C., April 28, 2022 /PRNewswire-PRWeb/ -- Murphy's Naturals, the outdoor lifestyle company helping others enjoy life outside since 2014, is scheduled to close a successful $8.5 million Series A funding round with capital from premier, early-stage investment firms by the end of month.
The round attracted a lead investment from NRV, with additional significant investments from Emil Capital Partners, 550 Capital Partners, and PenFed Foundation's Veteran Entrepreneur Investment Program. Both 550 Capital Partners and PenFed Foundation are focused on supporting military veteran entrepreneurship.
"We're proud to invest in Murphy's Naturals, which has a talented and committed team, an on-trend portfolio of plant-based insect repellents and other products, and operational expertise that will allow for scalable expansion," said Laura Markley, General Partner and Managing Director at NRV, who joined Murphy's Naturals' Board of Directors in November 2021. "And we're eager to see Murphy's Naturals continue to disrupt a consumer product category that has historically seen limited innovation."
This is Murphy's Naturals' second round of funding, having favorably completed a seed round in 2019. No further capital raises are anticipated at this time. The company intends to direct the investment capital toward R&D for innovative new products, increased production capacity, and marketing campaigns.
"We are grateful for our investment partners, who believe in what we have accomplished and in what we can accomplish in the years ahead," said Murphy's Naturals Founder and CEO Philip Freeman, a U.S. Navy veteran. "We're not only committed to making the best products for outdoor living, we also are a socially conscious company, and we appreciate that our investors see that and embrace it."
ABOUT MURPHY'S NATURALS
Murphy's Naturals is an veteran-owned and family-operated outdoor lifestyle company with a specialized line of natural products. Best known for its celebrated mosquito repellents, Murphy's Naturals has been enabling others to enjoy life outdoors since 2014. Murphy's Naturals' products are made from responsibly sourced, plant-based ingredients and contain a high concentration of natural repellent oils, making them effective and long-lasting. As a Certified B Corporation, Murphy's Naturals is committed to environmental and social impact. Two percent of all revenue is donated to organizations who share Murphy's vision, one percent of which goes specifically to 1% For The Planet, an international organization helping businesses commit to creating a healthy planet. Murphy's Naturals can be found online as well as retailers across the nation. For more information, visit murphysnaturals.com.
Media Contact
Tiffany Reeves, Butin PR, 1 347-524-2939, [email protected]
SOURCE Murphy’s Naturals
Share this article