Gloss Ventures raised $9.5 million in senior debt from an undisclosed Canadian institution to fuel the acquisition and incubation of beauty brands.

WHO: Gloss Ventures was founded in 2020 by Quinn Roukema, Tobias Topel, and William McMacken to build the next generation’s iconic CPG portfolio. The group will acquire DTC beauty and wellness brands, growing them through an omnichannel commerce engine and proprietary social influence technology. The business's current portfolio includes Vitamin Bounty, Active Wow, Zoe Ayla, and Sacheu Beauty.

WHY: The funding will be used to incubate or acquire direct-to-consumer beauty and wellness brands focused on social media.

IN THEIR OWN WORDS: "We are focused on health and beauty brands targeting gen Z and millennials—the major consumer generations of the future—and on brands that have already found success by leveraging social influencers," Roukema told Beauty Independent. "We feel like we can really add value with our proprietary software." Tapping into some 20,000 micro- and nano-influencers, he describes the software as a "tool to create a lot of buzz in a cost-effective way for our brands and products."

DETAILS:

• Gloss Ventures raised $9.5 million in senior debt from an undisclosed Canadian institution.
• Roukema told Beauty Independent sales are poised to increase 60% from last year, and the company has achieved 20% EBITDA for its entire portfolio.
• Gloss Ventures has offices in Montreal, Toronto, Los Angeles, and Amsterdam, and global warehousing with 24 employees that will grow 40+ in 2022.
• The company is beginning a second fundraising round to secure US-based investment to accelerate growth of its portfolio and make further investments in its proprietary software.