Did you know: 1 billion umbrellas are tossed out each year? That’s enough metal waste to build 25 Eiffel Towers. The Hedgehog Umbrella solves this problem with unbreakable technology designed to withstand the rainiest and windiest of commutes.
Vancouver, Canada is infamous for its rainy and windy weather. And when Kevin Truong lived there, it certainly lived up to its reputation. After replacing one too many broken umbrellas and hearing his friends echo the same frustrations, Kevin reached his breaking point.
In 2015 he decided to create a solution to this simple yet ubiquitous problem. Pulling from past experience in the automotive and aerospace sectors, Kevin and his cofounder Cahay designed the unbreakable Hedgehog Umbrella.
After prototyping their indestructible umbrella and gaining traction with a Kickstarter campaign, Kevin and Cahay appeared on CBC’s Dragons’ Den to add fuel to the fire.
Dragon (and Clearbanc co-founder) Michele Romanow offered them a deal, and it was a no-brainer to supplement their new funding with equity-free Clearbanc capital. Since Kevin and Cahay have most of their cash flow tied up in travel and operational expenses, Clearbanc gives them the freedom to test, iterate, and optimize ad spend.
Hedgehog’s revenue growth month over month since taking Clearbanc capital.
By placing ads with Clearbanc preferred vendors like Facebook and Google, Kevin gets the most bang out of his Clearbanc bucks.
With Clearbanc, Kevin and his team have the flexibility to test and iterate on ads, which has led to a dramatic increase in their effectiveness.
"We tried to raise a seed round a while back but fell flat because a lot of investors tend to shy away from e-commerce DTC companies, especially those without a subscription program or IoT features.
Clearbanc is hassle-free and easy. It’s the most sustainable funding option for companies like ours."Kevin Truong Co-Founder of Hedgehog