This Company Raised $40M by Focusing on Transparency Inside & Out

How Kat Schneider disrupted a $36B industry in her mission to provide more transparency about what we're putting in our bodies.
This Company Raised $40M by Focusing on Transparency Inside & Out

Adam Ryan: All right. Our next speaker started a company called Ritual. They have sold millions of bottles of vitamins. She started the company when she was pregnant and she wanted a prenatal vitamin that she knew was safe while she was pregnant. Before that, she was a managing partner at a venture capital firm that invested in Spotify, Uber, and Dropbox. So for the next few minutes, we have the pleasure of listening to Kat Schneider. Everyone give a round of applause.

Katerina S: Hi, I’m Katerina Schneider. I’m the founder and CEO of Ritual. Today I’m really excited to share with you how we’ve built a culture of alignment and transparency inside and out. How has alignment contributed to our growth and how can it potentially impact yours? So I started the company when I was four months pregnant, actually four months pregnant right now as well and I couldn’t find a vitamin that I trusted. So I set out on a journey to build one that I did.

And as I grew my family, I also grew the business. But I had a lot of questions. It was the first time I was medically advised to take a vitamin. So I took my doctor’s advice. I went to the store, I went online, I even looked at prescription vitamins, but I couldn’t find anything that was scientifically backed, clean, and transparent. So I did the next thing, which was I asked a bunch of friends, what vitamins are you taking? I got answers like yellow bottle, Brown cap, nature, something.

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Don’t press snooze on this opportunity: sleep supplements

The signal: As meditation becomes mainstream, people may be surprised to find that searches for sleep apps double their meditation counterpart. As people invest in getting a better night’s rest, there’s opportunity abound, including physical products like weighted blankets or premium PJs, supplements, popular insomnia drugs having their patents expire, companies paying their employees to sleep better, marketing for sleep specialists, or online sleep education (ex: sleep apnea test has 27k searches per month).

The alternative milk market is getting frothy

The signal: As more people wave goodbye to dairy, alternative milk is slowly taking over; it has already cornered 13% of the market. With the exception of soy milk, all of the alt-milks have been on the up, with some of the newer entrants including hemp milk and pea milk. Other alt-products are getting attention, including cashew cheese, with 18100 searches per month.

Capitalizing on the Airpods market, making more money than Shopify

The signal: Since killing the headphone jack, Apple has graced the world with AirPods, which did an estimated 60m units in 2019. That means AirPods alone are bringing in approx ~$10b in revenue, more than Twitter, Shopify, or Spotify, to name a few popular tech giants. Opportunity lies in Apple opening up SiriOS or the wave of iPhone accessories (including cases, cleaning kits, hooks, and keychains) which have shown “hockey stick” growth alongside their hardware predecessor.

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