{"id":644,"date":"2018-10-29T15:24:05","date_gmt":"2018-10-29T19:24:05","guid":{"rendered":"https:\/\/research.ncsu.edu\/win\/?p=644"},"modified":"2024-01-08T16:28:12","modified_gmt":"2024-01-08T21:28:12","slug":"boosted-by-raleigh-investor-filtereasy-closes-6-9m-funder","status":"publish","type":"post","link":"https:\/\/research.ncsu.edu\/win\/boosted-by-raleigh-investor-filtereasy-closes-6-9m-funder\/","title":{"rendered":"Boosted by Raleigh investor, FilterEasy closes $6.9M funder"},"content":{"rendered":"\n\n\n\n
Four-year-old downtown Raleigh subscription service FilterEasy \u2013 the brainchild of a pair college friends from N.C. State University \u2013\u00a0just closed on a $6.9 million round, led by Raleigh\u2019s own venture firm, One Better Ventures.<\/p>\n
FilterEasy CEO\u00a0Thad Tarkington<\/a>\u00a0says the money is an \u201copportunity to grow our business,\u201d but it\u2019s also a chance to bring in the expertise of the OBV team \u2013 a group of seasoned investors with a history of brand building.<\/p>\n \u201cWe\u2019re big fans of what they\u2019ve accomplished professionally,\u201d Tarkington says.<\/p>\n OBV, founded by a group of Seventh Generation and Burt\u2019s Bees veterans, appears to reciprocate. A securities filing for a fund called OBV-FE closed on $5.1 million in equity earlier this year \u2013 specifically related to FilterEasy\u2019s funder, confirms\u00a0John Replogle<\/a>, former Seventh Generation CEO and co-founder of OBV.<\/p>\n \u201cI think they\u2019re one of the most dynamic growth companies in the Triangle right now,\u201d says Replogle of FilterEasy. \u201cIt\u2019s a great team and a really great product concept in my view.\u201d<\/p>\n Replogle says it\u2019s the disruptive nature that attracted his team.<\/p>\n \u201cFilters feel like a mundane and sleepy category,\u201d he says. \u201cMost people tend to forget when to replace their filters. They tend to forget the sizes. It\u2019s just not a convenient, easy process, and so, through figuring out this great subscription model \u2026 they make it totally brainless for a consumer.\u201d<\/p>\n Tarkington says to expect innovation in the coming months as the company continues \u201cto build our brand.\u201d<\/p>\n \u201cThere\u2019s a few things in our pipeline related to our customer base and our service that we\u2019re planning to roll out,\u201d he says.<\/p>\n It\u2019s not FilterEasy\u2019s first funder. The company has previously closed on more than $11 million in institutional capital, according to securities filings. Nearly $7 million came from a single equity round in 2017.<\/p>\n And Tarkington has some advice for entrepreneurs considering their own capital raises.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n