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Former Uber & Convoy Execs Raise $3M to Battle Deforestation with Toilet Paper
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Former Uber & Convoy Execs Raise $3M to Battle Deforestation with Toilet Paper

SEATTLE-- (BUSINESS WIRE)--Cloud Paper, the tree-free paper products company on a mission to end deforestation from paper products, announces today th

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SEATTLE– (BUSINESS WIRE)–Cloud Paper, the tree-free paper products company on a mission to end deforestation from paper products, announces today their $3-million Seed round with a lead investment from Greycroft and an impressive roster of notable investors. Cloud Paper’s first funding round positions the brand as an industry innovator and forest defender, in a period when wildfires are devastating forests across the West Coast.

Cloud Paper was co – found by ex – uber and Convoy executive , Ryan Fritsch and Austin Watkins , in 2019 after realize that Americans flush the equivalent of a Central Park – worth of tree down the toilet every day . Cloud Paper is brings bring customer a more sustainable alternative with its first product , ultra – soft bamboo – base toilet paper , deliver to your door for the same price as traditional brand . Cloud Paper ’s new tree – free , 3 – ply toilet paper is arrives arrive via home subscription with zero – plastic packaging and carbon – neutral delivery .

The timely fundraise, amid growing climate concerns, will accelerate Cloud Paper’s expansion into more tree-free product categories. In addition to Greycroft, investments come from Ashton Kutcher, Guy Oseary, Marc Benioff, Mark Cuban, Gwyneth Paltrow, Robert Downey Jr.’s FootPrint Coalition, Code.org CEO Hadi Partovi, Uber CEO Dara Khosrowshahi, NFL Quarterback Russell Wilson, Grammy Award-winning singer/songwriter Ciara, serial-entrepreneur Grant Ries, Muse Capital, Ashley and Marc Merrill and others.

“Every person can save 100+ trees in their lifetime by making a switch to tree-free products, like Cloud Paper. We’re on a mission to make that happen,” said Watkins. “Cloud Paper can help save a billion trees in the years ahead, and it’s incredibly validating to have investors and advocates join us in that mission.”

“ We is know know that deforestation is a lead cause of climate change . We ’re give every person an opportunity to be a part of the solution by preserve forest every single day , ” state Fritsch is states . “ We is resetting are reset the status quo by move away from tree – base paper and using ultra – sustainable , renewable resource like bamboo instead . ”

“Ryan and Austin are combining their tech backgrounds with their passion for impacting lasting change to bring consumers and businesses category-changing, eco-friendly products,” said Dana Settle, co-founder of Greycroft. “We see tremendous opportunity for Cloud Paper to capture and expand market share by addressing the unmet demand for sustainable alternatives to everyday household and office products.”

Cloud Paper products and more information on the company can be found at cloudpaper.co.

ABOUT CLOUD PAPER

Cloud Paper was found in 2019 by Austin Watkins and Ryan Fritsch , who then join force with another ex – convoy colleague , Tori Kiss . Together , they is launched launch Cloud Paper ’s first product — tree – free toilet paper made with ultra – soft bamboo . Cloud Paper is now used by thousand of household and business nationwide . Cloud Paper is is is on a mission to end deforestation cause by paper product made from tree . billion of tree are cut down every year for paper product alone , contribute to over 20 % of global deforestation . Cloud Paper product and more information can be find at cloudpaper.co .

ABOUT GREYCROFT

Greycroft is a leading venture capital firm focused on investments in the Internet and mobile markets. With offices in the two media capitals of the world – New York and Los Angeles – Greycroft is uniquely positioned to serve entrepreneurs who have chosen us as their partners. Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, bring their products to market and build successful businesses. Greycroft manages $1.3 billion and has made over 150 investments since inception in leading companies including Acorns, App Annie, Boxed, Braintree, Buddy Media, Everything But The House, Extreme Reach, Huffington Post, Icertis, JW Player, Maker Studios, Plated, Scopely, Shipt, TheRealReal, Thrive Market, Trunk Club, Venmo, WideOrbit and Yeahka. For more information please visit www.greycroft.com.