Consumer Goods Spotlight: Cleancult
Cleaning products can be a messy business! Cleancult set out to change that. Its founder, Ryan Lupberger, believed we all deserve cleaning solutions that really work without the added waste and hard-to-pronounce chemicals. Re-envisioning how we clean, he created an all natural brand with products that are incredibly effective, all while eliminating as much as 95% of the industry’s overall plastic.
Tackling Ryan’s mission to bring zero-waste and clean ingredients to the masses depended on the ability to reach consumers without disrupting their everyday routines and spending behaviors. Customers want the option to purchase cleaning supplies in-store or DTC, but becoming truly omnichannel isn’t cheap or easy. Cleancult needed the right debt and equity partners to fund and champion their next wave of growth.
Cleancult’s Growth Trajectory
A Greener Take on DTC
Why stop at reducing plastic waste? Cleancult’s DTC approach included a partnership with carbonfund.org to create an entirely sustainable, carbon-neutral shipping model, so consumers can receive guilt-free cleaning products at their doorstep.
Expansion to Retail
As retailers commit to the U.S. Plastics Pact (requiring them to be 100% recyclable and refillable, and 50% biodegradable/compostable by 2025), Cleancult’s innovative business model is uniquely positioned to help.
Keeping up with Demand
Cleancult closed its Series A to bolster its investment in product development and was in the market for a complementary working capital facility. After all, the brand would require a significant amount of working capital to build up inventory to manage soaring demand.
Ryan first heard of Dwight Funding at a popular consumer brand forum he attended pre-launch. When it came time to choose a working capital partner, Ryan's team thoroughly assessed their options and selected Dwight based on its credibility, network and experience in the CPG space. As their relationship evolved, Dwight connected the company to a number of investors, and Ryan and his team realized that the benefits of partnering with a well-respected lender transcended working capital.
Working with Dwight checks a box for investors and has been helpful in our conversations with potential equity partners. People in our space know that Dwight does their due diligence and really understands their clients before starting to work with them. For that reason and more, Dwight’s name recognition, portfolio quality and credibility has really come through for us.
Ryan Lupberger
CEO & Co-Founder, Cleancult
4.2x
growth in year 1
2-3x
expected growth in year 2
700%
gain in Amazon channel in year 1
What’s Next for Cleancult?
Cleancult is poised to be in 30,000 doors by 2025. The likes of CVS, Meijer, and Kohls are already distributing up to 60 Cleancult SKUs, and the revolutionary cleaning products will be found on shelves in an additional 2,500 doors by the end of 2022. On top of expanding into new retailers, the better-for-you business has been busy growing internationally, launching new SKUs and closing their Series B.
With equity backing and a scalable line of credit from Dwight Funding, Cleancult can continue to grow its national presence, increase consumer loyalty, and continue its mission to make the U.S. cleaning industry a cleaner, greener place.
Interested? We’d love to hear from you.
Growing your CPG Business? Let’s talk about how Dwight can help.