Summary:
Jones raised $10 million to revolutionize the smoking cessation market.
Founders Hilary Dubin and Caroline Vasquez Huber created stylish nicotine lozenges to reduce stigma.
Launched in November 2023, Jones aims for $10 million in sales by 2025.
The brand focuses on a judgment-free culture, celebrating progress over perfection.
Jones targets a 60% female audience with chic packaging and innovative marketing strategies.
The Cool Factor in Quitting Smoking
New York-based Jones has just raised $10 million to expand its innovative nicotine lozenge company, targeting the $3 billion smoking cessation market. Founded by Hilary Dubin and Caroline Vasquez Huber, both of whom had personal experiences with nicotine addiction, Jones aims to make quitting smoking and vaping a more appealing journey.
A Personal Journey to Innovation
Hilary Dubin realized her nicotine dependence when she and her boyfriend stumbled upon a Juul at a ski lodge in 2017. Years later, Caroline Huber found herself in a similar situation during the Covid pandemic, realizing she was consuming the equivalent of 40 cigarettes worth of nicotine each day. After trying traditional methods to quit, they found existing nicotine replacement therapies (NRTs) embarrassing and outdated.
Creating a Modern Solution
The duo decided to launch Jones to modernize nicotine replacement therapy. They secured a $10,000 grant from an NYU accelerator program and raised $1.1 million in pre-seed funding. By incorporating an app that utilizes cognitive behavioral therapy, they designed their product to assist users in quitting cigarettes, vapes, and pouches. Launched in November 2023, Jones recently closed a $10 million Series A round, valuing the company at $45 million.
Stylish and Chic Nicotine Solutions
Unlike traditional NRTs that are often packaged in clinical-looking bottles, Jones offers a stylish tin for its lozenges, collaborating with jewelry brand Monbouquette to create a $295 sterling silver lozenge box that doubles as a necklace. This approach not only targets a younger demographic but also aims to eliminate the stigma associated with quitting.
A Disruptive Approach to a Stodgy Market
Jones competes in a market dominated by large pharmaceutical companies like Johnson & Johnson and GlaxoSmithKline. However, they are redefining the experience of quitting by emphasizing a judgment-free culture, where users can set personal goals and celebrate progress, no matter how small.
The Future of Jones
With a 60% female and 40% male customer base, Jones is on track to reach $10 million in sales by the end of 2025. The founders believe that modernizing the quitting process is vital, as many smokers want to quit but struggle to do so. They aim to make quitting nicotine as cool and accessible as possible, proving that the $3 billion market still has room for innovation.
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