Despite its relative obscurity, Detrapel is actually pretty big business. In fact, the company turns over over 120K a month and has eight employees. David is no longer a one-man show and has been known to hire full-time staffers, as well. The company’s annual revenues are estimated at $12 million and are predicted to grow by a couple million dollars in 2020. During the first half of the decade, the company’s sales were largely concentrated in the northeastern United States, but the company has begun expanding into new territories.
The company’s product is a water-based stain remover that is safe to use on carpets and other flooring. The company has won various small business competitions and is expected to turn over a respectable number of orders in the near future. The company is also said to have a good social media presence, thanks in part to its participation in the Shark Tank. The company has received offers from four out of five of the Sharks on the show. The product is also endorsed by the American Chemistry Council, as well as the EPA, which has a longstanding relationship with the company.
As of this writing, the company is not yet FDA-approved, but the FDA has given its seal of approval to a handful of other squeaky clean products. Aside from its stain-removal capabilities, the product is also known to be free of fluorochemicals and other nasties. In addition to its home and office use, Detrapel is a viable option for treating carpets in hotels and other hospitality venues. The product has received a plethora of accolades, including recognition as a “Best of Massachusetts” winner, as well as a spot on the Forbes list of 30 Under 30.
The company’s most recent big win came in the form of a $7 million series A funding round. During the company’s annual budgeting meeting, the CEO revealed that a majority of the funding was allocated to the company’s food and beverage packaging division. The company also announced plans to launch an innovative line of consumer-focused clothing and shoe care products. The company is set to make waves in the cosmetics industry and is expected to turn over millions of dollars in sales in the coming years. As of this writing, the company’s total assets amount to nine million US dollars.