In Brands, Finance

Beauty Bakerie, a brand of cruelty-free, long-lasting cosmetics, has closed a $3MM seed round led by Unilever Ventures and joined by institutional investors 645 Ventures and Blue Consumer Capital. The funding was closed on the investment platform CircleUp, which connects innovative early-stage CPG brands to institutional investors.

WHO: Founded by millennial Cashmere Nicole and tapping into the desires of a largely millennial demographic, Beauty Bakerie has gained a strong online following by engaging a like-minded tribe with a sweet tooth for makeup. A digitally native brand, they’ve garnered a massive Instagram following of over 400,000 users not just by enhancing the customer experience and prioritizing engagement, but more importantly, by doing so with positive messaging and altruistic donations to social causes their customers care most about. Beauty Bakerie is disrupting the industry with high-quality and worry-free formulas based on the proposition of being “Better not Bitter.”

WHY: Beauty Bakerie will utilize the investment to further develop its product offering and to continue to grow its consumer base. Beauty Bakerie will be launching in 10 doors of Forever 21’s new chain Riley Rose, on QVC UK, HSN, in Sephora SEA, and in 40 of Wojooh’s doors in the UAE and KSA by Q4 2017.

IN THEIR OWN WORDS: “We are extremely honored, fortunate and grateful for the opportunity to partner with such exceptional investors whose proven track records can only lend to the growth of this brand and to the growth of our team,” says Cashmere Nicole.

“Beauty Bakerie’s story is one of perseverance and survival, led by a truly passionate and creative CEO. Cashmere has built an all-star team that will continue to be disruptive and innovative in the cosmetics space and I am thrilled to be joining them in their journey,” says Kenneth Chennault, Chief Executive Officer of American Express.

Anna Ohlsson-Baskerville, Director at Unilever Ventures said: “We have been impressed by Beauty Bakerie’s ecommerce-led model and consistent digital growth as well as the strong engagement of the brand’s millennial consumer base. I look forward to working with Cashmere and the management team to build upon the company’s momentum and many growth opportunities.”

DETAILS: 

  • Beauty Bakerie closed a $3MM seed round led by Unilever Ventures and joined by institutional investors 645 Ventures and Blue Consumer Capital.
  • Notable individual investors include Kenneth Chennault (CEO of American Express), Adebayo Ogunlesi (Chairman & Managing Partner at Global Infrastructure Partners and Lead Director at Goldman Sachs), William M. Lewis (Managing Director and Co-Chairman of Investment Banking at Lazard Ltd.), and Charles Phillips (Former Co-President of Oracle Corporation & Current CEO of Infor).
  • The brand’s products are sold in over 100 countries including the U.S., Canada, the U.K. and Brazil.
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