In Brands, Finance

The hair care brand Aquis closed $5 million in growth financing. Springboard Growth Capital, backers of ClassPass, The RealReal, and Hint Water, make their first investment in beauty, leading the round.

WHO: Aquis is run by husband-and-wife team Britta Cox and Suveen Sahib. Britta launched the first high-tech towel that blends science and technology with effortless simplicity. The brand believes women invest too much time, effort, and money on their hair care, with suboptimal outcomes. Hair care ought to be simpler, faster, and more sustainable. They are engineering hair care solutions that protect the natural integrity of the hair and help it stay healthy. Women are sharing their transformational stories of healthy and beautiful hair, fueling the company’s growth.

Springboard Growth Capital invests in growth-stage women-led companies poised to lead the transformation of consumer products and services, building iconic brands to meet changing consumer demands. Portfolio includes The RealReal, ClassPass, and Hint Water.

WHY: Capital from this round will support Aquis’ continued growth and marketing, and to fuel new product innovations in the upcoming year.

IN THEIR OWN WORDS: “We were in conversations with several investors and one of the things that stood out for Springboard was they are one of the most breakthrough tech investors in the country, they have been largely involved in consumer tech platforms and we are the first beauty investment that they are making and they have strong belief in women entrepreneurs,” Sahib told WWD.

“We are thrilled to partner with Aquis, which is reinventing hair care through technology that makes hair stronger and healthier. Building on their iconic towels and turbans, we believe that the Aquis Prime 4-step hair care system further puts the company in an ideal position to address the two-thirds of women who are dissatisfied with their hair’s appearance and are looking for a new hair care regimen,” commented Lori Wachs, Partner of Springboard Growth Capital.

DETAILS: 

  • Aquis haircare raises $5 million Series B round led by Springboard Growth Capital.
  • This is Springboard Growth Capital’s first investment in the US beauty industry.
  • This latest round brings Aquis’ total funding to $11 million.
  • Aquis raised $4 million total in seed funding from Guthy Renker in October of 2017.
  • Lori Wachs, Partner of Springboard Growth Capital, will be joining Aquis’ board of directors.

Photo: via Aquis 

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