Textile manufacturing startup SRTX has hired Sophie Boulanger as its new CEO, months after its founder, Katherine Homuth, stepped down as part of a critical fundraising deal.
Boulanger co-founded and led the consumer eyewear brand BonLook, which was acquired by Canadian optometry company FYidoctors in 2021. She was most recently brought on as CEO at Ottawa-based property tech startup 1Valet, but left in September 2024, according to her LinkedIn profile. The Montréal-based entrepreneur also sits on multiple boards, including retailer La Canadienne and the Montréal Cancer Institute.
“I am honoured to join the company at such a pivotal stage.”
Sophie Boulanger
“I am honoured to join the company at such a pivotal stage and look forward to working with our talented team and world-class investors to expand our reach, scale our operations, and continue shaping the future of sustainable textiles,” Boulanger said in a statement.
Founded in 2017 as Sheerly Genius, SRTX makes Sheertex rip-resistant tights, which consist of a uniquely durable polymer several times stronger than steel wire. Homuth stepped down in March as part of a $40-million USD fundraising deal from existing investors. The cash was meant to sustain operations as SRTX dealt with additional duties from United States tariffs. The company temporarily laid off roughly 40 percent of its staff.
SRTX told BetaKit that it has since called back “well over a third of its employees,” and that Boulanger will assess staffing needs “to ensure SRTX has the right team in place to support sustained growth.”
After Homuth stepped down, SRTX appointed CFO Timothy Leyne as its interim CEO. In May, it announced it had secured the first close of its $40-million equity deal with returning investors H&M, BDC Capital, Investissement Québec, and Export Development Canada. The company told BetaKit the deal’s last tranche closed over the summer.
According to The Globe and Mail, the “pay-to-play” deal diluted non-participating investors’ stakes and reduced SRTX’s valuation from $325 million USD to $95 million USD.
In a joint statement, the group of investors said Boulanger “brings an excellent track record in scaling brands, creating shareholder value, and building strong teams.”
Before the deal, Homuth had been candid on social media about the company’s fundraising needs. In January, she said SRTX needed $23 million USD in equity financing by the end of Q1 2025 to become profitable.
As part of the fundraising deal, Homuth and her replacement had to adhere to a new social media and communications policy, according to The Globe and Mail. Homuth has since been vocal about building her new software venture, Oomira, and developing a set of standards to help founders negotiate their working conditions.
In her statement, Boulanger said she wants to recognize Homuth’s contributions to the company. “I am excited to carry that legacy forward,” she added.
Feature image courtesy SRTX.