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GLOBAL SYNDICATED INVESTMENT PRESENTATION:
MOXIE SCRUBS

Thursday, September 9, 2021 9am PT, 12pm ET, 5pm London, 6pm Continental Europe

​Presenter: Alicia Tulsee, Founder of Moxie Scrubs

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Complimentary for HBS Angels Members

About this event:

On behalf of the Boston chapter, we would like to share the following investment opportunity:

​

Summary

Moxie Scrubs is disrupting the $12B+ medical apparel market as the first consumer brand for nurses. Nurses represent the largest and fastest growing segment of the healthcare workforce, which is becoming younger and younger, also representing a customer with high lifetime value over the duration of their career. 

 

Moxie Scrubs' sales launched this past February, 2021, and has already achieved $200k+ organically and growing revenue since then. Moxie Scrubs is also an official partner of the American Nurses Association among others giving them access to over 2 million nurses.This gives the business very low customer acquisition costs. 

 

In addition to, Moxie Scrubs' lead investor is their manufacturer, providing them with excellent manufacturing terms, low MOQs, a mature established supply chain/ excellent quality control, and the ability to scale their inventory without needing capital upfront as the manufacturer fronts all of the inventory costs where Moxie Scrubs then pays back the landed cost of goods 90-days after arriving in their warehouse. 

 

All of these competitive advantages make Moxie Scrubs a low risk, extremely cash flow efficient business and allowed the business to take off in such a short period of time. The business is projected cash-flow positive this year and has already received offers to be acquired. The founders' goal is to grow the business to a $1B+ valuation before exiting. Based on industry trends, growth, and COVID-19's impact on the medical apparel market, the company is projected to do so over the next 3-5 years. 

Problem

 

Today, 80% of the medical apparel market is purchased through brick and mortar retail channels as most of the market's incumbents cannot sell direct-to-consumer due to channel conflicts/non-competes. Visiting a uniform store is also extremely inconvenient for today’s healthcare professionals who do not work a traditional 9-to-5 schedule. The existing retailers also do not offer enough of the flexibility and choices that healthcare professionals are demanding more and more of each day, or have the margin for better designs and innovation; making this market ripe for disruption. Current D2C brands are very expensive, not marketed toward the everyday healthcare consumer, and overall also not having inclusive sizing. There is a lot of whitespace in this market addressing the everyday healthcare professional and not many incumbents compared to other industries. 

Solution

 

Moxie Scrubs is the most cost effective direct-to-consumer medical apparel brand and the only nurse-lifestyle brand. Moxie Scrubs is also the only scrub uniform with a patent-pending comfort waist, guaranteeing their scrubs the best scrubs for long wear. Not only are they great-fitting, professional looking, easy care, easy wear; their scrubs are easily accessible direct-to-consumer with great customer service and drama-free returns and exchanges. They also offer inclusive sizing with talls and petites, XS-3X sizes to accommodate the everyday healthcare professional. We are launching 4X and 5X sizes this Q4. With over 5K transactions, Moxie Scrubs is holding a 1% return rate which speaks to the strong need for their business, demonstrating strong product market fit and customer satisfaction. 

Markets, Commercialization, & IP

Moxie Scrubs is disrupting the $12 Billion and rapidly growing medical apparel industry. Their customers are healthcare professionals, a sector that is expecting 15% growth from 2019-2029, compared to 4% average growth for other occupations. Their product is a required uniform that is repurchased frequently, 3-4x and more each year. They have a patent pending around the construction of the garment’s waist.

Raise

Moxie Scrubs has already raised $1.2M in pre-seed capital through a convertible note with a $7.5M valuation cap and 20% discount bearing 4% interest. They are seeking to raise a total of $1.5M to support new strategic hires and grow their digital and social media marketing, partnerships, and strategy development. HBSAB members have invested $125k in this round.

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