Doc Johnson kicks off first investment
03.02.2020 | North Hollywood, CA – In a pioneering deal that could cause big changes in the sex toy industry, market giant Doc Johnson has partnered with start-up Come Play in an arrangement that mirrors the Silicon Valley venture capitalist and incubation model to support Come Play’s first product called Petl. Chad Braverman, Doc Johnson’s COO and Director of Product Development gave us an insight into the company’s plans.
1) How did the idea come about to act as an investor?
Despite the fact that we’re in a multibillion-dollar industry and sex toys have become widely used by people from all walks of life, operating in our category remains difficult, especially for start-ups. Banks and investors are reluctant to provide capital, getting insurance is difficult, and a range of other service providers simply won’t deal with sex toy companies because of outdated, archaic taboos. At the same time, startups are so needed in this space to bring forth innovation.
2) What was Doc Johnson’s experience when the company was founded in 1976? Were there any difficulties getting started and did you wish you had someone to help you?
When our doors first opened in 1976, sex toys were referenced as marital aids; it was all very taboo. With anything new comes obstacles, especially with a product type that had a slight stigma to it at the time. We experienced many difficulties as substantial as hardships with the U.S. Government, to obscenity charges, to banks and insurance companies not wanting a hand in what we were offering. All the normal channels that are essential to funding a company were very much an uphill battle. The sex toy industry as a whole has changed and evolved so much. Our founder, my father, Ron Braverman, played a vital role in paving the way of what is now a multi-billion-dollar industry. Since then, we’ve come a very long way, though I think we can all agree we still have some ways to go. The difficulties we once faced with funding our company are still very prevalent to start-ups today, which is one of the major factors in us wanting to help push forward and support companies such as Come Play.
3) Why exactly Come Play? How did the contact come about?
Product-wise, Piri Miller of Come Play has built a better mousetrap. More than that though, we know she wants to build and operate a great company, not just sell us intellectual property as so many have done in the past. In addition, female founders are vital in this industry that has been male-dominated for way too long The sex toy industry needs a variety of designers and leaders creating products to empower sexual pleasure for more people. Supporting companies like Come Play is a great way to achieve that.
4) Do you only support financially or also with regard to personnel / marketing / sales etc.?
Our strategic manufacturing partnership means that we can provide material support in prototyping and manufacturing.
5) Do you plan to approach start-ups that catch your eye in the future, or can they “apply” to you?
We absolutely plan to approach other start-ups that match our brand message and intent and welcome anyone interested in contacting us. Continuing to work with more start-ups is very important to us; we have plans to create a program where companies can easily reach out to us.
6) Will you focus on a specific area in your investments? For example: only American companies or only toys?
We hope to focus on start-ups whose founders are underrepresented in the sex tech and sex toy space, including female founders.
7) What benefits are you hoping for your company from the investments?
The sex toy industry needs a variety of designers and leaders creating products to empower sexual pleasure for more people. Supporting companies like Come Play is a great way to achieve that.
-In our latest issue, you will find more detailed information about the toy Petl. Piri Miller, founder and CEO of Come Play told us everything about the device and also about her way into the industry in an interview – so don’t miss it!-