DTC men's grooming and hair color brand Cleverman raised nearly $2 million in funding, led by L'Attitude Ventures, a purpose-led venture capital firm that invests exclusively in early-stage, US Latinx-led and -owned companies with high growth potential.
WHO: Launched in March 2021, Cleverman, a customized professional hair and beard color solution for men, was founded by industry veteran Carlos Barreto, who leveraged 20 years of experience at P&G, Coca-Cola, and Revlon to bring the direct-to-consumer concept to life. Cleverman's new innovative product line makes hair color effortless. A simple, 3-minute quiz, over 10,000 customization options, and PerfectMatch Technology provide men precise color, from full coverage to touch-ups. The pricing is $22.95 for a one-time purchase, or a subscription for $9.95 for the first purchase and $18.95 for subsequent purchases.
WHY: The investment will power the brand's future product innovations, omnichannel expansion, and brand awareness.
IN THEIR OWN WORDS: "We are absolutely ecstatic to have such an incredible team of investors join us for our seed round. Their support will be instrumental in taking Cleverman to the next level, and we couldn't be more confident in our ability to succeed," says founder and CEO Barreto. "Our lead investor, L'Attitude Ventures, is a rock-solid VC firm with an impressive array of expertise across many sectors. With their focus on empowering the Latinx entrepreneurial community, we are thrilled to have the L'Attitude Ventures team on board, and eager to take advantage of their expertise to help Cleverman soar to new heights. As a proud Latino founder, I'm delighted to see Cleverman continue to grow and thrive. Our journey has been nothing short of amazing since we sold our first product two years ago. With our recent funding, I'm excited to see what the future holds for Cleverman and can't wait to see us take flight to even higher levels!"
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