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Clean Beauty Start-Up Ogee Closes $7 Million Series A

July 4, 2022
July 4, 2022
Ogee

Ogee closed a $7.07 million Series A led by Birchview Capital LP and included previous investors FreshTracks Capital and Coastal Ventures.

WHO: Founded in 2014 in Burlington, VT, Ogee focuses on providing high-performance, certified-organic skincare and makeup products made from sustainable ingredients.

WHY: The latest funding is being used to fuel D2C growth through extensive marketing initiatives, substantially expand the brand’s makeup collection and other product lines, and support the expansion into the brick-and-mortar retail channel in Q4.

IN THEIR OWN WORDS: "We are pleased to have the support of Birchview Capital and all our investors as we look to significantly expand our business, launch new product lines, and grow additional channels as well as international sales. We are particularly excited to expand our already successful collection, bringing a greater assortment of healthy, high-performing ingredients to our community," said Mark Rice, CEO of Ogee.

"We are very pleased to have participated in this important financing for Ogee," commented Matt Strobeck, Managing Partner of Birchview Capital. "We believe this capital provides the company sufficient resources to continue to develop and sell their unique beauty products and positions them for growth."

DETAILS:

  • Ogee closed a $7.07 million Series A led by Birchview Capital LP that included previous investors FreshTracks Capital and Coastal Ventures, bringing the total raised over two equity financing rounds to $12.57 million. 
  • Since its launch, the brand has focused on D2C, which represents 90% of sales of revenue; the balance comes from Amazon and specialty retailers both online and at brick and mortar. 
  • Ogee's revenues have grown over three times over the last three years, with 80% growth in 2021 and 85% growth in 2022 to date.
  • The brand has a robust product innovation pipeline that will roll out over the next 3-9 months.
  • In 2017 the business raised $4.5 million.
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