In a significant win for women’s health and empowerment, RedDrop, a FemTech company focused on tween period care, has secured a seven-figure investment after winning a pitch competition at Pharrell Williams’ fourth annual Black Ambition Demo Day. This achievement marks a pivotal moment for the company, founded by Dr. Monica Williams and Dana Roberts, who have faced challenges in raising funds through traditional investment avenues.
The journey to success
Dr. Williams, the CEO of RedDrop, was one of eight finalists selected to present at the Demo Day, which took place in November. The event, organized by the GRAMMY Award-winning musician and entrepreneur Pharrell Williams, aims to uplift Black and Hispanic founders by providing them with essential resources and capital.
“It’s unbelievable,” Dr. Williams expressed in an interview with The Atlanta Journal-Constitution. This sentiment reflects the hard work and dedication that went into perfecting their pitch, as highlighted by Roberts in a heartfelt Instagram message thanking her partner for their relentless efforts.
Empowering young girls
RedDrop is dedicated to empowering girls as they transition into puberty and navigate their periods. The company offers period care kits specifically designed for tweens, featuring menstrual pads that are tailored to fit their bodies. This initiative stems from Roberts’ two decades of experience as an educator, where she observed the lack of preparedness among fifth-grade girls who began menstruating in her classroom.
Innovative solutions: Roberts created a “first purse” filled with essential products for her students, which sparked the idea for RedDrop.
Collaborative mission: After reaching out to Williams, the duo partnered to launch a brand that not only provides products but also educates and supports tweens and their caregivers.
A transformative prize
The Black Ambition Grand Prize represents a significant milestone for RedDrop, especially considering Dr. Williams’ initial rejection when she applied for the prize in 2022. The funding structure is based on a SAFE (Simple Agreement for Future Equity), which allows the founders to secure the necessary capital while maintaining control over their company.
With the investment, RedDrop is already working on developing educational materials focused on puberty, aiming to expand their impact and reach. The founders have expressed their aspirations to collaborate with major retailers, including beauty giant Ulta, to make their products more accessible to young girls across the country.
Black Ambition’s mission
Founded by Pharrell Williams in 2020, Black Ambition is a nonprofit initiative designed to invest in high-growth startups led by Black and Hispanic entrepreneurs. The organization aims to bridge the gap in access to capital for talented founders who have historically been overlooked by traditional investment channels.
Since its inception, Black Ambition has awarded approximately $13 million in funding to diverse entrepreneurs, helping to create pathways for success and innovation within underrepresented communities. The initiative not only provides financial support but also connects entrepreneurs with corporate sponsors and investors, fostering a network of resources that can help propel their businesses forward.
RedDrop’s recent success at the Black Ambition Demo Day is a testament to the power of perseverance and innovation in the face of adversity. As the company continues to grow and expand its offerings, it stands as a beacon of hope for young girls navigating the challenges of puberty. With the support of Black Ambition and a commitment to empowering the next generation, RedDrop is poised to make a lasting impact in the realm of period care.
