FIGS - Innovative Medical Apparel for Healthcare Professionals

FIGS, is an innovative and pioneering company that specializes in designing and producing stylish, comfortable, and functional medical apparel, primarily for healthcare professionals. Founded in 2013, the company has since become a game-changer in the medical apparel industry. Its products are well-known for their superior quality, modern designs, and emphasis on performance and functionality.

Company History

FIGS, Inc. was co-founded by Heather Hasson and Trina Spear in 2013. The idea for FIGS was born out of Heather Hasson’s experience helping a friend find comfortable and stylish scrubs. Recognizing the gap in the market for fashionable yet functional medical attire, Hasson partnered with Trina Spear, a former investment banker with a background in healthcare, to establish the company. Since then, FIGS has transformed the medical apparel industry through its innovative approach to design and e-commerce.

Product Offerings

FIGS specializes in medical apparel, primarily targeting healthcare professionals such as doctors, nurses, dentists, and other medical workers. The company’s product line includes scrubs, lab coats, jackets, underscrubs, socks, and other accessories, all designed to meet the unique needs and requirements of healthcare professionals.

One of the key differentiators for FIGS is its focus on comfort, performance, and style. The company uses proprietary fabrics, such as FIONx, which is moisture-wicking, antimicrobial, and wrinkle-resistant, providing an optimal balance of comfort and durability. Additionally, FIGS’ designs emphasize functional details, such as ample pocket space, comfortable waistbands, and tailored fits, ensuring that healthcare professionals can perform their duties effectively while looking and feeling their best.

Funding Rounds

FIGS has attracted significant investment over the years, with several funding rounds contributing to the company’s growth and expansion. Some notable funding rounds include:

Seed round in 2014: FIGS raised $2 million in a seed funding round led by Mohr Davidow Ventures, with participation from Karlin Ventures, 500 Startups, and other investors.
Series A in 2016: The company secured $5 million in a Series A funding round led by Campfire Capital, with participation from existing investors.
Series B in 2018: FIGS raised $65 million in a Series B funding round led by Tulco, with participation from existing investors.

Partnerships

FIGS has established numerous partnerships throughout its history, which have helped to bolster the company’s reputation and expand its reach. Some notable partnerships include:

American Association of Nurse Practitioners (AANP): In 2018, FIGS became the exclusive scrubs partner for the AANP, helping to raise awareness about the importance of high-quality, comfortable, and stylish medical apparel among nurse practitioners.
Lululemon: In 2019, FIGS collaborated with Lululemon to create a limited-edition scrub collection. The partnership combined FIGS’ innovative approach to medical apparel design with Lululemon’s expertise in athleisure, resulting in a unique and high-performance product line.
Joe’s Blackbook: FIGS partnered with the Joe’s Blackbook Scholarship Foundation to support emerging design talent in the medical apparel industry, providing scholarships and mentorship opportunities for aspiring designers.

Awards and Recognition

FIGS has received numerous awards and accolades for its innovative approach to medical apparel and e-commerce. Some of the company’s most notable achievements include:

Fast Company’s Most Innovative Companies: In 2020, FIGS was named one of Fast Company’s Most Innovative Companies, ranking 9th in the Retail category for its pioneering approach to medical apparel and commitment to disrupting the industry.

Inc. 5000 List: FIGS made it to the prestigious Inc. 5000 list in 2019, ranking at number 1661. The list recognizes the fastest-growing private companies in the United States, with FIGS’ inclusion highlighting its impressive growth and success in the medical apparel industry.

National Retail Federation’s (NRF) “Disruptors”: In 2019, FIGS was recognized as one of the NRF’s “Disruptors,” a list that celebrates innovative companies in retail. The company’s inclusion on this list demonstrates its impact on the medical apparel sector and its commitment to pushing the boundaries of design, functionality, and customer experience.

Entrepreneur’s “Top 100 Brilliant Companies”: In 2018, FIGS was included in Entrepreneur’s list of the “Top 100 Brilliant Companies.” This recognition highlights the company’s innovative approach to medical apparel and its success in disrupting a traditionally stagnant industry.

Good Design Awards: In 2017, FIGS received the Good Design Award for its Women’s Jogger Pant. The Good Design Awards celebrate excellence in design and innovation, with FIGS’ recognition in this category emphasizing the company’s commitment to creating stylish, functional, and comfortable medical apparel for healthcare professionals.

Philanthropy and Social Initiatives

FIGS has always been committed to giving back to the healthcare community and has made philanthropy an integral part of its business model. The company’s “Threads for Threads” program, launched in 2013, promises to donate a set of scrubs to a healthcare provider in need for every set sold. To date, FIGS has donated over 500,000 sets of scrubs to healthcare professionals in more than 35 countries.

Additionally, FIGS has launched a series of initiatives to support healthcare workers during the COVID-19 pandemic. In 2020, the company donated $1 million worth of scrubs to frontline workers across the United States and committed to providing ongoing support throughout the crisis.

In conclusion, FIGS has demonstrated an unwavering commitment to revolutionizing the medical apparel industry since its inception in 2013. The company’s focus on innovative design, superior quality, and exceptional customer experience has made it a leader in the space, attracting significant investment, numerous awards, and a loyal customer base. Through strategic partnerships, philanthropic efforts, and a dedication to pushing the boundaries of what is possible in medical apparel, FIGS continues to make a lasting impact on the lives of healthcare professionals around the world.