Dollar Shave Club has raised another $US15 million, bringing its latest round of fundraising to almost $US91 million, according to an SEC filing posted Friday.
The Series D round was reportedly closed in June when the startup that sells men’s shaving kits raised $US75 million, led by Technology Crossover Ventures. Friday’s filing with the SEC shows that the startup has brought in an additional $US15 million with another $US10 million worth of shares still up for grabs.
The filing says that a total of 22 investors are participating in the latest fundraising round.
According to Pitchbook, the additional funding raises the valuation of Dollar Shave Club to $US630 million.
The Los Angeles-based startup launched in 2011 with an idea to steal market share from razor powerhouse, Gillette. CEO Michael Dubin promised a better price point: for $US1 a month, Dollar Shave Club sends you a high-quality razor blades. He created a crude and goofy viral video to support the launch, which garnered 19 million views.
In 2014, the startup says it generated $US65 million, triple that of its 2013 revenue, with 2 million monthly and bi-monthly subscribers. Dollar Shave Club did not return request for comment.
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