Glo approaches $20 million valuation after latest funding round
Glo, a growing creator of liquid-activated light-up products, received a major boost when its owners raised more than $1.7 million in the most-recent funding round, valuing the company at nearly $20 million.
STARKVILLE, Miss., April 12, 2022 /PRNewswire/ — Glo, a growing creator of liquid-activated light-up products, received a major boost when its owners raised more than $1.7 million in the most-recent funding round, valuing the company at nearly $20 million.
As one of the fastest-growing startups in the Southeast, Glo sells products under two brands: Glo Cubes – light up drink cubes and Glo Pals – liquid activated children’s sensory toys.
The Glo Pals product line was inspired by a child with autism whose mother used Glo’s patented light-up technology to help him overcome his fear of water. Since its launch in 2018, Glo Pals has grown exponentially and now accounts for more than 90% of the company’s sales.
Glo stepped into the limelight in 2020 when it was recognized among best-in-class products as a Gold Award winner in the Mom’s Choice Awards. The company garnered even greater attention in 2021 when it was invited to produce Glo Pals based on Sesame Street characters Julia, the first Muppet with autism, and Elmo.
“Glo took a big step last year when we signed a licensing agreement with Sesame Street,” said Anna Barker, Glo’s vice president of business development. “And we just announced another agreement to introduce Glo Pals based on Daniel Tiger’s Neighborhood. These moves have put us on the map in terms of our growth potential and caught investors’ attention.”
Glo also caught the attention of The New York Times, which recently published an article about the company’s successful handling of supply-chain challenges during the COVID-19 pandemic.
Since its inception in 2015, Glo has sold more than 4 million products to customers in nearly 40 countries and sells to mass-market retailers including Nordstrom, Macy’s and Kohl’s. The latest funding boost will allow Glo to expand operations and create more jobs, primarily in graphic design and animation, media, supply chain and engineering.
Last year, Glo moved its operations into the historic Rex Theater in Starkville, Mississippi, where it is based. The building that had stood vacant for decades is once again a vibrant and bustling landmark in the downtown area following a $1.4 million renovation.
“We’re fortunate to be part of a community that champions and invests in its new businesses,” said Hagan Walker, Glo’s co-founder and CEO. “Now we have the capital to expand our creative team, develop some cool projects and launch more innovative products. With this momentum, who knows where we’ll be in a year.”
Based in Starkville, Miss., Glo designs and manufactures products that spark imagination by intersecting light, liquid and learning. Since inception in 2015, the company has sold more than 4 million products to customers in nearly 40 countries. Learn more about Glo Pals at glopals.com; Follow the fun on social media @glopals.