UK’s shaving products firm Cornerstone secures new investment

UK-based men’s shaving products firm Cornerstone has raised an additional £3.5m in a new investment round led by private equity firm Calculus Capital.

Founded in 2014, the firm’s portfolio includes skincare products and razors that are sold through an online subscription service.

Cornerstone has obtained a total of £8m investment since it was founded. Of this, an initial £1m was procured through a crowdfunding campaign in July 2015.

The firm intends to expand its product range this year to cater to the $6.7bn European male grooming market through the UK’s growing e-commerce platform.

In March this year, the country’s online retail sales were reported to be 15.5% of its total sales, indicating a year-on-year increase of 19.5%.

Calculus Capital investment assistant director Roshan Puri said: “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.”

Following the closing of the new round of investment, former executive of the brands Graze, Lovefilm, Zoopla, Paddy Power William Reeve has joined the Cornerstone team.