Modern Grooming brand Faculty has raised $3 million in seed funding led by The Esteé Lauder Co.
WHO: Faculty was founded in 2019 by Umar ElBably and Fenton Jagdeo with a mission to transform how men relate to evolving notions of conventional masculinity, ushering in what they define as “third-wave masculinity”—encouraging consumers to define masculinity themselves. The brand currently offers nail lacquer and nail stickers, which are currently sold out.
WHY: The funding will also go to marketing, inventory, and research and development.
IN THEIR OWN WORDS: “Esteé is a great partner,” Jagdeo said to WWD. “They allow us to move quickly if we decide to move quickly, and mentorship is crucial. Umar and I are young and we have a passion for building this. The mentorship is going to be incredible.”
Jagdeo said about Faculty and the market, “Gen Z is taking over the world. With $140 billion in buying power, they’re not concerned with stereotypes. They care about self-expression and when you look at A$AP Rocky, Dennis Rodman and Harry Styles, they dabbled in nail polish as a form of expression. This is something the world is experiencing and Faculty is representative as the only brand championing that. We’re not here to be a hyper masculine brand. We need to be open to all forms of masculinity.”
- Faculty has raised $3 million in seed funding led by The Esteé Lauder Co. with participation from RareBreed Ventures, Maple VC, Debut Capital, Creative Connectors, AUFI, and 10K Ventures (an affiliate of 10K Projects), as well as entertainers Maisie Williams from HBO series Game of Thrones and multiplatinum recording artist Iann Dior.
- According to Crunchbase, the brand raised an undisclosed round of pre-seed funding from ARTIS Labs and Bolt.
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