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Iris&Romeo Raises $5 Million in Seed Funding Round

May 23, 2022
May 23, 2022
Iris&Romeo

The DTC skincare-meets-makeup hybrid clean beauty brand Iris&Romeo raised an additional $2 million, bringing the total raised to $5 million in seed funding.

WHO: Founded in 2019 and led and run by women, Iris&Romeo was born from former Smashbox executive Michele Gough Baril's belief that women can liberate themselves from outdated beauty industry ideals and limited choices by working together to support female-crafted and -oriented beauty solutions. Bolstering a quickly growing multiuse lineup of clean, all-in-one skincare and makeup hybrid products, Iris&Romeo combines clean ingredients and luxurious textures to support high-efficacy formulas to minimize women's routines while maximizing results.

WHY: The funding will be used for marketing and building out the team.

IN THEIR OWN WORDS: "Step No. 1 is unlocking this brand's vision in a way that reaches more consumers. How do we get more eyeballs on this brand? How do we spread the word in an efficient way?" Tara Desai, Iris&Romeo CEO, told Glossy. "[The] emotional connection with your consumer—that is going to set you apart. A brand that makes me look good but also feel [good] is one where it's supporting a bigger mission."

DETAILS:

  • Iris&Romeo raised an additional $2 million in a second round of seed funding led by BrandProject. This round brings the total raised to date to $5 million.
  • The brand raised $2 million in funding in June 2021 through a partnership with early-stage venture capital firm BrandProject.
  • The brand's goal is to grow revenue by 300% year-over-year in 2022 in preparation for a Series A fundraise by end of 2023.
  • Iris&Romeo also aims to launch three additional products in 2022 and expand into brick-and-mortar in 2023.
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