FreshTracks Capital announces its investment of $1MM in growth capital for Ogee, a Vermont-based NSF-certified organic skincare brand.
WHO: Ogee was founded in 2014 by Mark Rice, Abbott Stark and Alex Stark. The company’s founders spent years in the beauty and fashion industries, building some of the world’s leading brands and products, and decided to focus on developing products that represent their own values. Ogee is an NSF-certified organic skincare brand founded to connect the worlds of luxury and organic.
Founded in 2001, FreshTracks Capital is a Vermont-based investment fund that uses venture capital to create positive economic and community impacts. Across its four funds, which total more than $45 million, FreshTracks has invested in over 40 companies. FreshTracks hosts a number of events for entrepreneurs and investors, including Peak Pitch and Road Pitch.
WHY: Provide growth capital and help the company expand its business.
IN THEIR OWN WORDS: FreshTracks Capital’s Managing Director, T.J. Whalen, said of the deal in a press release, “We’re thrilled to invest in Ogee’s growth. We’ve worked with the team informally for a couple of years, and we know they have what it takes to be successful in the $120 billion global skincare market. With the Ogee team’s proven track record and experience in skincare and fashion, they are well positioned to capitalize on industry trends towards well-differentiated, luxury organic skincare products.”
According to Ogee Co-Founder and CEO, Mark Rice, “the investment will allow the company to capitalize on its momentum in the rapidly growing organic skin care marketplace which is expected to grow to $5.5B by 2020”. Rice described the plans for the investment, “since the launch of our products in late 2016, we have received a wonderful reception from customers, press and retailers. Consumers are responding to our organic formulations that don’t sacrifice efficacy. Our new financing partnership allows us to take the brand to the next level through building brand awareness, new product development, national distribution and expansion of our successful e-commerce model.”
- FreshTracks led the $1 million round of growth capital for Ogee.
- This is the fifth company investment from FreshTracks Capital’s newly launched investment fund, FreshTracks IV, which opened in December 2016.
Read the full release on News Locker.
Photo: Ogee Instagram