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CURLSMITH CLOSES SERIES A FUNDING LED BY BFG PARTNERS

January 6, 2021
January 6, 2021
Curlsmith

Community-based textured-hair brand Curlsmith has closed a Series A financing, led by BFG Partners, to fuel growth.

WHO: Launched in 2018, Curlsmith began as an online community offering haircare content on YouTube and Instagram, providing a space for the sharing of tips, tricks, and tutorials for managing curls and waves. Fueled by outreach from their growing following, the founders set out to co-create the next generation of curl-care recipes, collaborating closely with their community, influencers, and experts to develop everything from the recipes in the initial lineup to the brand name. Today, the brand is synonymous with clean, curly haircare globally. Curlsmith offers a lineup of over 40 clean, vegan, cruelty-free haircare recipes that deliver salon-quality results.

The full product suite includes styling products, hair and scalp treatments, as well as hair color, all formulated without silicones, sulphates, parabens, or damaging chemicals.

Boulder, CO-based BFG Partners is a venture capital firm that seeks partnerships with early-stage consumer product companies whose products do better for people and the planet. BFG aims to work alongside exceptional entrepreneurs to foster sustainable growth and outperformance in categories across food, beverage, and consumer products. In addition to providing portfolio companies with capital, BFG provides teams with the advice needed to make critical decisions and maximize opportunities. This advice spans operational strategy, tactical marketing, channel development, organizational design, and capital planning.

WHY: The funding will provide additional growth capital for the brand as it continues its expansion in both the United States and Europe.

IN THEIR OWN WORDS: “We are ecstatic to be partnering with BFG as a fund well-known for supporting founders and fueling early-stage growth,” said Michal Berski, founder and CEO of Curlsmith. “BFG’s keen eye for backing breakout brands across consumer categories, and building them into famous brands makes them an invaluable partner.”

“At BFG we seek to partner with consumer businesses that care equally about developing innovative products and driving value for their costumers as they do managing the strength of their business fundamentals,” said Ben Fenton, partner at BFG Partners. “Curlsmith embodies this ethos in creating products that do better by and for a wide swath of the population and the success of their strategy is born out in the brand’s exceptional growth.”

DETAILS:

  • Curlsmith plays to a fast-growing, yet largely underserved, customer base in the textured-hair market. Despite 70% of the global population having wavy, curly, or coily hair, and the growing movement towards embracing natural texture, few haircare brands have stepped up to meet the needs of these consumers.
  • Curlsmith generated $18 million in sales in 2020. Michal Berski, founder and CEO of Curlsmith, said the brand’s average basket size is $75-$80.
  • The brand has earned countless awards and consistent 5-star reviews, and is the top-selling curl-care brand at Ulta Beauty.
  • Curlsmith products are available in over 1,200 Ulta Beauty stores in the United States as well as on their website.
  • In a year marked by retail closures and consumer uncertainty, Curlsmith’s growth accelerated in 2020.
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