Drinking at a bar or a college party might be fun, but they’re not safe environments. The number of spiking cases has risen dramatically in recent years and this inspired Shirah and Michael Benarde to invent NightCap. The product is disguised as a scrunchie and covers cups to prevent spiking. After featuring on Shark Tank, they got a deal with Lori Greiner. This year, NightCap is worth an estimated $4 million.
Two Siblings, One Mission
The Benarde siblings grew up in West Palm Beach, Florida. Shirah is the youngest and studied Public Relations and Advertising at the University of Tampa. Michael has a bachelor’s degree in Political Science and Government from Florida State University. After college, he got an MBA from the same institution.
Like his little sister, he became an entrepreneur during college. He also founded Michael Benarde Consulting, a company that helps startups scale through manufacturing and marketing.
Starting NightCap
At 16 years old, Shirah heard horror stories from friends in college about young girls getting their drink spiked. Her friends were okay, but the young businesswoman was determined to do something about it.
She wanted to make a product to protect girls without making them uncomfortable. After sketching up an idea, she proceeded to her mom’s closet and got some pantyhose and a scrunchie. Combining the two, she created the prototype.
Michael helped Shirah launch NightCap in 2019 and raised $18,000 from their parents, $12,000 from IndieGoGo, and $15,000 from pitch contests. After nearly a year in business, sales reached $68,000.
Taking the Idea to the Sharks
Shirah and Michael Benarde had trouble figuring things out at the start. But when they got the formula in 2020, the pair were confident they could get an investment from the Sharks. They joined season 12, seeking $60,000 for a 20% equity stake.
Shirah and Michael delivered a solid pitch and it was clearly well rehearsed. The Sharks loved the product, and business had great momentum. Lori Greiner was the most interested as it resonated with her. Lori was quick to offer $60,000 for 25% and the founders accepted the offer.
NightCap Sales And Growth Update
The deal with Lori closed after the show, and her investment was used to upgrade their website and product packaging. Within a year of the episode airing, NightCap had generated $2.1 million in revenue driven in large part by viral TikTok content.
Shirah has said that a single TikTok post brought in over $40,000 in sales in the early days. TikTok now accounts for roughly 50% of direct-to-consumer revenue. The brand has accumulated over 175 million views on the platform.
Singer-songwriter Julia Michaels later invested $100,000 for a 10% stake, helping boost the brand’s profile in bars and music venues. In August 2023, NightCap partnered with dating app Bumble to create a safety kit for college students. The brand has also expanded into Forever 21 stores, and in early 2024 Shirah met with Forever 21 CEO Winnie Park to discuss further retail opportunities.
NightCap’s product line has grown beyond the original scrunchie. It now includes keychains, StopTopps stickers, can cooler covers, and the CanCap, a reusable lid launching in partnership with NBA and MLB teams. The company has partnered with over 150 universities including LSU, Yale, FSU, Ole Miss, and Penn State, as well as bars, police departments, and local governments.
In 2024, NightCap played a key role in passing California Bill AB 2375, a first-of-its-kind law mandating that bars with full liquor licenses provide drink covers to patrons upon request. The startup has now sold over 600,000 units across 46 countries. Annual revenue has grown to an estimated $5 million, and NightCap’s valuation is now estimated at $4 million.
