Palo Alto Investors declined to comment on the financing. Little information is available on the firm, other than that it manages a $1.5 billion technology-focused hedge fund. In an unrelated press release, Palo Alto Investors recently described its investment strategy as “Focused exclusively on overlooked, misunderstood and undervalued segments of the equity market that have significant potential for positive returns.” It invested in JimmyJane out of its Micro Cap fund.
Draper—managing director of
But he isn’t the only VC involved with San Francisco-based JimmyJane. Phil Schlein, a venture partner at
JimmyJane has expanded its product line since raising its last round of financing, a $1.1. million Series C round, at the end of 2006. Its original line of high-end vibrating sex toys were pricey, starting at $175 and ranging up to $3,250 for its diamond-studded platinum vibrator. It has since added several down-market offerings, such as a the $90 “Iconic Rabbit” and a $36 vibrating ring.
In the past week, it added sensual massage stones for $25 each. Company executives did not return a call for comment.
The executive team has put together an impressive board of directors. Since its last financing, it added Jean-Michel Valette, who has served on the boards of several consumer-oriented products, including Samuel Adams brewer The Boston Beer Co.; Peet’s Coffee & Tea; and mattress maker Select Comfort.
Another director is Amy Schoening, who was the chief marketing officer of clothing store Gap Inc., where she helped redirect the Banana Republic brand. She now runs a brand consulting company called True Story in San Francisco and has been working with companies such as the Levi Strauss & Co. to help sell more of its Dockers brand.