Jan 2 2006
Brondell Inc., developer of the Swash, a revolutionary high-tech toilet seat, announced it has secured $1.3 million of Series A financing from a group of investors including technology visionary Mark Cuban. Cuban joins Brondell’s advisory board along with packaged-goods veteran Todd Schmidt and high-tech marketing veteran Scott Epstein. Brondell will use the investment to finalize the development of new products, and expand distribution and marketing to capture additional marketshare in the fast growing U.S. luxury bathroom products category.
Brondell introduced the Swash in January 2005 to target the luxury bathroom products market and to help create a better bathroom experience for American consumers. The Swash is a high-tech toilet seat that provides all of the hygienic benefits of a traditional bidet, but it is installed on existing residential toilets. The Swash utilizes two retractable wands to provide a filtered posterior and feminine warm water wash and has a heated seat and all functions operate at the push of a button. The Swash 600 model even has a warm air dryer and wireless remote control. Focused exclusively on the U.S. market to date, the company has seen record growth, experiencing average quarter over quarter revenue growth of nearly 50% in 2005.
“I have always been interested in innovative and cutting edge-technologies coupled with a large market opportunity,” said Mark Cuban, “Brondell is a prime example. The team has developed an innovative approach that targets a massive market which has seen little innovation in the last 250 years. It’s an exciting time for Brondell.” “As the American consumer’s desire for a more comfortable and healthier lifestyle grows, so does the demand for luxury bathroom products like the Swash,” said Scott Pinizzotto, CEO of Brondell.
“This investment is exciting for us because it validates our market opportunity, provides the capital to develop products that will continue to improve the bathroom experience, and gives us access to a strong group of advisors.”
Brondell’s flagship products, the Swash 400 and Swash 600, are available at HomeDepot.com, LinensNThings.com, EXPO design centers, select Bed, Bath & Beyond stores and online at www.brondell.com. The Swash 400 and Swash 600 retail for $429 and $549, respectively.