Caliray raised a Series A round of investment led by the early-stage beauty and wellness-focused investment fund True Beauty Ventures.
WHO: Caliray, a California-based beauty brand, was founded in 2021 by Urban Decay founder Wende Zomnir and focused on developing products with clean formulas, recycled packaging, and innovation in sustainability. The brand launched direct-to-consumer, launching exclusively with Sephora as part of its Planet Positive program in January 2022.
WHY: The brand will use the fresh funding to support the Sephora business in the US and Canada and new product launches.
IN THEIR OWN WORDS: "We are excited to partner with Rich Gersten and Cristina Nuñez of True Beauty Ventures," Zomnir told WWD. "By working alongside these experts, they will further help us accelerate our growth, scale, and deepen our investment into our existing partnership with Sephora."
"We are thrilled to increase our investment in Caliray and believe in Wende as a visionary, second time beauty founder who previously built and successfully grew Urban Decay into an iconic brand," said Nuñez. Urban Decay was acquired by L'Oréal over a decade ago.
Gersten added: "I have known Wende for over 12 years, having first met her when she was at Urban Decay. She is an industry icon, and we are so excited to have the opportunity to partner together on Caliray as she looks to build another enduring beauty brand."
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