Cornerstone, which raised over £875k on Crowdcube in 2015, provides quality British skin care products and German engineered razors via an online subscription service This week, it has was announced that the company secured a further £3.5 million investment led by private equity firm Calculus Capital. Securing this investment from the UK growth firm sees Cornerstone add to its impressive list of experienced angel investors, including Quidco CEO, Andy Oldham and ex-president of Levi Jeans, Joe Middleton.
Alongside this injection of finance, Cornerstone has also added e-commerce veteran, William Reeve to their team as an advisor. Reece has previously been on the boards of many prestigious companies including Graze, LoveFilm, Zoopla and Paddy power.
Since it launched in June 2014, Cornerstone has grown its customer base to 140,000 subscribers and the team to 27 members of staff. Cornerstone also won ‘Best Razor’ two years running from Shortlist and AskMen, and founder Oliver Bridge was selected as a Forbes 30 under 30 at the end of 2016.
Roshan Puri, of Calculus Capital, commented: “As a consumer brand that offers customers quality, value and convenience, Cornerstone is disrupting the men’s shaving and toiletries market in the UK. We have been extremely impressed with the company’s almost obsessive focus on ‘the customer’ and industry leading capabilities in customer acquisition and management. A high quality management team is a key part of our investment criteria. Oliver and the senior team at Cornerstone have shown their ability to deliver significant business growth and build a well-run organisation, capable of using third party investment to deliver strong returns.”
Another business under the Calculus Capital umbrella is Money Dashboard, which is currently live on Crowdcube. This VC firm invests through the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCT), providing growth capital for small businesses.